Business News
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IMF awaits ‘necessary financing assurances’ as soon as possible
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[ad_1] People attend the 2023 Spring Meetings inside the International Monetary Fund in Washington, US, April 12, 2023. — AFP WASHINTON: The International Monetary Fund (IMF) is looking forward to obtaining the necessary financing assurances as soon as possible to pave the way for the successful completion of the ninth review. The Fund is still…
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Pakistan still half way to clinch staff-level IMF deal | The Express Tribune
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[ad_1] The International Monetary Fund (IMF) said on Saturday that it was still waiting for “necessary financing assurances” for a successful conclusion of the review talks – taming expectations for a deal until Pakistan arranges the remaining $3 billion. In an early morning statement, Nathan Porter, IMF Mission Chief to Pakistan, said that the global…
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After two-day decline, gold rates up again, reach all-time high
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[ad_1] A jeweller displays gold chains at his shop in India. — AFP/File After a two-day decline, the prices of gold were up again on Friday, with the precious metal scaling to a new record. According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) rose by Rs1,100…
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SBP chief says Pakistan striving to rebound strongly from ‘series of economic shocks’
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[ad_1] State Bank of Pakistan (SBP) Governor Jameel Ahmad addresses the Pakistan Sustainable Banking Conference in Karachi on November 9, 2022. — APP/File Pakistan’s economy has “always rebounded strongly after undergoing severe shocks” and the country will strive to rebound from the current economic challenges as well, State Bank of Pakistan (SBP) Governor Jameel Ahmad…
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Pakistan to get $300m from China today, Ishaq Dar confirms
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[ad_1] Finance Minister Ishaq Dar speaks during a press conference in Islamabad on February 10, 2023. — AFP Finance and Revenue Minister Ishaq Dar on Friday announced that Pakistan will receive $300 million from the Industrial and Commercial Bank of China (ICBC) today which will “shore up forex reserves”. “Out of Chinese Bank’s ICBC approved…
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Inflation ebbs despite surge in prices of 26 commodities | The Express Tribune
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[ad_1] ISLAMABAD: Inflation fell, albeit slightly, despite increase in the prices of 26 essential commodities during the week ending on Thursday, according to the data released by the Pakistan Bureau of Statistics (PBS) on Friday. The PBS weekly report said that inflation decreased by 0.6% on a weekly basis; however, it stood at 44.61% on…
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Inflation to begin decelerating over next few months: SBP | The Express Tribune
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[ad_1] State Bank of Pakistan (SBP) said on Friday that the country’s inflation is expected to start decelerating over the next few months. “And with the revival of the IMF programme, the uncertainty regarding external financing will also fade away,” central bank governor Jameel Ahmad said in a statement. Pakistan has less than a month’s…
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Pakistan secures UAE’s confirmation for unlocking IMF deal
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[ad_1] An undated image of $100 and $50 dollar stacks placed on a table. — AFP ISLAMABAD: The United Arab Emirates (UAE) authorities have told the International Monetary Fund (IMF) it will provide financing to Pakistan, Finance Minister Ishaq Dar announced on Friday, rekindling hopes of an early signing of the agreement. “UAE authorities have confirmed…
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$6 billion financing plan remains elusive | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) on Thursday did not accept Pakistan’s request to reduce the additional loan requirement to $5 billion, as its deputy managing director sought further clarifications about the viability of an official plan to raise the loans. The Ministry of Finance did not report any breakthrough after a virtual contact…
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Pakistan’s debt sustainable, says IMF
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[ad_1] The International Monetary Fund’s (IMF) Managing Director, Kristalina Georgieva. Twitter Pakistan’s debt remains sustainable, the International Monetary Fund’s (IMF) Managing Director, Kristalina Georgieva said Friday as the nation faces one of its worst economic turmoils. The IMF statement comes after the Pakistani government announced it had met all requirements vital to receiving a critical…
