By Staff Reporter
ISLAMABAD: The government said it has no plans to freeze foreign currency accounts as its central bank’s reserves fell to $3.9 billion, enough to cover less than a month of imports.
Micro
SBP holds key rate at 21pc as inflation peaks
By Staff Reporter
KARACHI: Pakistan’s central bank on Monday held its key interest rate at a record 21 percent, as expected, suspending its monetary tightening campaign as the economy slows and inflation has peaked.
APP02-100623
ISLAMABAD: June 10 - Finance Minister Senator Mohammad Ishaq Dar addresses the Post Budget press conference at Ministry of Planning. APP/SAK/ABB
Dar says Pakistan to seek debt relief from bilateral lenders
By Staff Reporter
ISLAMABAD: Pakistan will ask some of its bilateral creditors to ease its debt repayment terms, Finance Minister Ishaq Dar said on Saturday, as the country faces uncertainty over completing an International Monetary Fund (IMF) bailout program that expires this month.
Pakistan hopes to finalise IMF bailout deal in June
By Staff Reporter
ISLAMABAD: Pakistan hopes to finalise a $1.1 billion tranche from the International Monetary Fund (IMF) bailout program by the end of June, Prime Minister Shehbaz Sharif said on Friday.
Dar says IMF’s ‘unfair treatment’ worsens Pakistan’s economic turmoil
By Staff Reporter
ISLAMABAD: Finance Minister Ishaq Dar on Friday criticised the International Monetary Fund (IMF) for delaying a bailout program for the country, saying it was “totally unfair” and had contributed to the economic turmoil.
Pakistan’s economy shrinks, misses all targets in dismal 2023
By Staff Reporter
ISLAMABAD: Pakistan’s economy suffered through a dismal year in 2022-23, with all its macroeconomic targets falling short of expectations due to a stalled International Monetary Fund (IMF) program, restricted imports, severe floods, and political turmoil.
Dar says new government should negotiate fresh IMF deal
By Staff Reporter
ISLAMABAD: Finance Minister Ishaq Dar said on Thursday that the new elected government should negotiate a fresh deal with the International Monetary Fund (IMF) after the current programme ends in June.
Pakistan to raise $2bn in bonds amid IMF uncertainty
By Staff Reporter
ISLAMABAD: Pakistan plans to raise $2 billion by issuing international bonds in the next fiscal year, as it seeks to secure over $22 billion in foreign loans amid uncertainty over its International Monetary Fund (IMF) programme.
World Bank forecasts for 2pc growth in Pakistan’s economy in FY24 fall short of govt’s target
By Staff Reporter
KARACHI: Pakistan’s economy is expected to grow by 2 percent in the next fiscal year, well below the government’s target of 3.5 percent, as the country struggles with the lasting effects of last year’s floods, high inflation and policy uncertainty, the World Bank said on Tuesday.
NEC approves 8 pm shop closure to save energy, traders oppose
By Staff Reporter
ISLAMABAD: The National Economic Council (NEC) on Tuesday approved an energy conservation plan that will require shops and commercial centers to close by 8pm starting from July 1.