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Pakistan eyes $5 billion trade with Iran in five years
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[ad_1] Foreign Minister Bilawal Bhutto-Zardari and Iran Foreign Minister Hossein Amir Abdollahian witness the signing of memoranda of understanding between Pakistan and Iran in Islamabad on Thursday. — Twitter/@ForeignOfficePk ISLAMABAD: Pakistan chalked out a five-year trade cooperation plan with Iran on Thursday, setting up a target of $5 billion for bilateral trade. Foreign Minister Bilawal Bhutto-Zardari…
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China agrees to reschedule $2 billion debt | The Express Tribune
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[ad_1] ISLAMABAD: China has agreed to reschedule over $2 billion publicly guaranteed debt of Pakistan for a period of two years, providing a major relief to the government that is in the process of rebuilding foreign exchange reserves through fresh loans and rolling over maturing debt. The Economic Coordination Committee (ECC) of the Cabinet on…
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SBP reserves shoot past $8 billion mark after nine months
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[ad_1] A currency exchange dealer counts $100 bills in this undated picture. — AFP/File The State Bank of Pakistan (SBP) held reserves shot past the $8 billion mark on Thursday after a gap of nine months as Pakistan received inflows from the International Monetary Fund (IMF), United Arab Emirates (UAE) and Saudi Arabia. As per…
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IMF board green-lights $3 billion SBA for Pakistan
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[ad_1] The seal for the International Monetary Fund is seen in Washington, D.C., Jan. 10, 2022. — AFP The International Monetary Fund (IMF) Executive Board on Wednesday approved a staff-level agreement reached with Pakistan on a short-term stand-by deal. “Today, the Executive Board of the International Monetary Fund (IMF) approved a 9-month Stand-By Arrangement (SBA)…
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Pakistan, IMF clinch deal on $3 billion ‘stand-by arrangement’
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[ad_1] The International Monetary Fund building in Washington. — AFP/File In a major breakthrough on Friday, the International Monetary Fund (IMF) announced reaching a staff-level agreement (SLA) with Pakistan on $3 billion “stand-by arrangement” (SBA). “I am pleased to announce that the IMF team has reached a staff-level agreement with the Pakistani authorities on a…
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Another Rs4 billion approved for PIA | The Express Tribune
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[ad_1] ISLAMABAD: The government on Monday approved a Rs4 billion bailout package to pay the interest cost on the legacy loan of Pakistan International Airlines (PIA) — a sum that still falls short of the money needed to settle the entity’s liabilities and avoid international embarrassment. According to the Finance Ministry, the Economic Coordination Committee…
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China refinances $1 billion Pakistan loan
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[ad_1] The picture shows $100 notes. — AFP/File In a positive development, China on Friday rolled over a $1 billion loan to Pakistan shoring up the State Bank of Pakistan-held (SBP) foreign exchange reserves. The development came hours after Finance Minister Ishaq Dar informed the National Assembly’s Standing Committee on Finance and Revenue that China would be…
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April remittances decrease 29% to $2.2 billion
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[ad_1] This undated file photo shows US dollar banknotes. — AFP/File After hitting a seven-month high in March, remittances sent by overseas Pakistanis decreased to $2.21 billion in April — down 29% year-on-year, the State Bank of Pakistan (SBP) shared Wednesday in its monthly bulletin. Last month’s high remittances were because of Ramadan and Eid…
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Pakistan bound to repay $3.7 billion in May-June: Fitch Ratings
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[ad_1] A representational image. — PNGfind.com As the government struggles to secure a bailout from the International Monetary Fund (IMF), Fitch Ratings on Friday revealed that Pakistan faces a total of $3.7 billion of debt payments in the May-June period, Bloomberg reported. Hong Kong-based director at Fitch, Krisjanis Krustins, said about $700 million of maturities are…
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‘India’s exports likely to touch $900 billion in 2023-2024’ | The Express Tribune
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[ad_1] NEW DELHI: India’s exports of goods and services could touch $900 billion in the current financial year, up from $770 billion in the previous year, keeping resilient despite global headwinds, a top official of a grouping of exporters said. Merchandise exports could expand to between $495 billion and $500 billion, while services exports could…
