By Staff Reporter
ISLAMABAD: Pakistan’s economy is forecast to slow to 3.5 percent in the current fiscal year amid devastating floods, policy tightening, and critical efforts to tackle sizable fiscal and external imbalances, even as growth in FY2022 is expected to have reached 6.0 percent, the Asian Development Bank (ADB) said on Wednesday.
By Staff Reporter
ISLAMABAD: The Asian Development Bank on Tuesday said it was working “quickly” to provide a “significant” relief and rehabilitation package to the flood-hit Pakistan.
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) said on Sunday it would work with the international community to support Pakistan’s relief and reconstruction efforts following the catastrophic floods.
By Staff Reporter
KARACHI: Saudi Arabia renewed a $3 billion deposit at Pakistan’s central bank to bolster the south Asian state’s depleting foreign reserves, the central bank said on Sunday.
By Staff Reporter
ISLAMABAD: As the possibility of any immediate financing from multilateral creditors for the cash-strapped energy sector remains elusive, the government is exploring alternatives to secure programme loans for other sectors of the economy.
By Staff Reporter
KARACHI: Public finances deteriorated sharply in July, putting them on track for their worst year on record, the central bank’s latest data showed on Tuesday.
By Staff Reporter
ISLAMABAD: The government has sharply cut its economic forecast for the current fiscal year and signals its readiness to ease further if damage from the ongoing catastrophic floods proves more devastating.
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) said it will take over a year for inflation in Pakistan to fall to the central bank’s 5-7 percent target, adding that downside risks from high inflation were materializing and could push the country’s economy to ‘decelerate to 3.5 percent in FY23.’
By Staff Reporter
KARACHI: The International Monetary Fund’s (IMF) executive board on Monday approved a much awaited $1.17 billion disbursement to Pakistan after completing seventh and eighth reviews of the country’s reforms under a stalled $6 billion loan program.
By Staff Reporter
KARACHI: The International Monetary Fund’s (IMF) executive board on Monday approved a much awaited $1.17 billion disbursement to Pakistan after completing seventh and eighth reviews of the country’s reforms under a stalled $6 billion loan program.
