By Staff Reporter
ISLAMABAD: A high-level delegation from Saudi Arabia, led by Foreign Minister Prince Faisal bin Farhan bin Abdullah, arrived in Pakistan on Monday for a two-day visit aimed at enhancing economic cooperation between the two nations.
Economy
State Bank of Pakistan repays $1 billion Eurobond
By Staff Reporter
KARACHI: The State Bank of Pakistan (SBP) has successfully repaid a $1 billion Eurobond, it said on Saturday, amid efforts to secure a new long-term bailout from the International Monetary Fund (IMF) to stabilize its economy and manage external financing needs.
Georgieva signals new IMF-Pakistan program to tackle ‘important issues’
By Monitoring Desk
KARACHI: The International Monetary Fund (IMF) and Pakistan are currently in talks regarding a potential follow-up program to the existing nine-month, $3 billion stand-by arrangement, IMF Managing Director Kristalina Georgieva said on Thursday.
ADB cautions on Pakistan’s fragile economy as reform efforts face high risks
By Staff Reporter
ISLAMABAD: The Asian Development Bank (ADB) on Thursday issued a cautionary forecast for Pakistan’s economic future, highlighting “high risks” and political instability as major impediments to the country’s reform initiatives.
IMF to finalise last $1.1 billion bailout tranche to Pakistan by month-end
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif conceded on Thursday that the conditions of a new long-term loan from the International Monetary Fund (IMF) would be challenging but stressed the necessity of a fresh bailout to maintain macroeconomic stability.
World Bank predicts sluggish 1.8pc growth for Pakistan, calls for fiscal discipline
By Staff Reporter
ISLAMABAD: The World Bank has projected a modest 1.8 percent growth for Pakistan’s economy in fiscal year 2024, attributing the sluggish pace to enduring trade deficits and constrained external financing.
Pakistan canvasses interest in purchase of stake in PIA
Monitoring Desk
KARACHI: As part of reforms urged by the International Monetary Fund (IMF), the Privatisation Commission said on Tuesday that it was putting on the block a stake ranging from 51 per cent to 100pc of Pakistan International Airlines (PIA), Reuters reported.
Inflation cools to 20.7pc in March, lowest since May 2022
By Staff Reporter
ISLAMABAD: Pakistan’s inflation pace eased for a third month in a row to 20.7 percent year-on-year in March, marking the lowest rate since May 2022, the Pakistan Bureau of Statistics (PBS) data showed on Monday.
Petrol price leap, diesel dip
By Staff Reporter
ISLAMABAD: The government has announced a hike in petrol prices by up to Rs9.66 per liter starting on Monday, as stated by the Finance Division, attributing the increase to the rising cost of petrol in the global market.
Pakistan to tap China for $300 million debut Panda bonds: Bloomberg
Monitoring Desk
ISLAMABAD: Pakistan’s new finance minister said he’s keen to tap Chinese investors by selling as much as $300 million in Panda bonds for the first time ever this year, Bloomberg reported on Friday.