debt
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Rs7.2tr added to debt from Jul-Jan | The Express Tribune
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[ad_1] ISLAMABAD: The coalition government has managed to add a net Rs7.2 trillion to the debt pile in only the first seven months of this fiscal year – an average of Rs34 billion per day. The accumulation of debt is now nearly three times more than the gap between federal income and expenditures. The State…
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How much debt does Pakistan have to repay by June 2023?
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[ad_1] A representational image. — pngegg.com Unless Pakistan is able to secure a substantial amount of funds, the cash-strapped nation’s economic turmoil is here to stay as the rupee and inflation have just hit historic highs — and the situation hints towards a possible default. While Finance Minister Ishaq Dar’s comments paint a not-so-gloomy image…
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IMF flags debt restructuring hurdles | The Express Tribune
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[ad_1] BENGALURU: Group of 20 (G20) nations have some disagreements over restructuring debt for distressed economies, the chief of the International Monetary Fund (IMF) said on Saturday, adding that banning private cryptocurrencies should be an option. India’s G20 presidency comes as its South Asian neighbours Sri Lanka, Bangladesh and Pakistan are seeking urgent IMF funds…
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Debt servicing may surge to whopping Rs5.2tr | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) on Thursday asked Pakistan to increase the general sales tax rate to a minimum of 18% to raise more taxes, as the country’s debt servicing cost was projected to increase to alarmingly Rs5.2 trillion in the current fiscal year The global lender placed the demand to increase the…
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Addressing circular debt is a priority: Dar | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Ishaq Dar has said that it is the government’s priority to address the issues being faced in the energy sector – including circular debt – to bring financial sustainability to the sector and economic growth to the country. Chairing a meeting on the reforms in the energy sector at the Finance…
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Debt servicing pushes SBP’s forex reserves to $5.821bn
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[ad_1] A foreign currency dealer counts US dollars at a shop in Karachi, Pakistan, on May 19, 2022. — AFP The State Bank of Pakistan (SBP)-held foreign exchange reserves fell to an eight-year low of $5.821 billion after decreasing by $294 million due to debt servicing, data showed Thursday. This leaves Pakistan with an import…
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Pakistan to ‘repay’ external debt on time
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[ad_1] A dealer counts US dollars at a currency exchange shop in Karachi. — AFP/File Pakistan will not default on its international obligations and the federal government will ensure timely external debt payments, Minister of State for Finance and Revenue Dr Aisha Ghaus Pasha said Thursday. In conversation with journalists in Islamabad, the state minister…
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Govt forms committee to settle gas circular debt
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[ad_1] Man loads a LPG cylinder on a loading vehicle. — AFP/File ISLAMABAD: The Finance Ministry Wednesday formed a committee to settle gas circular debt as it accumulated up to Rs1,500 billion. The Minister of Finance and Revenue Ishaq Dar notified a committee to devise a circular debt settlement plan for gas sector companies, appointing…
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Egypt’s IMF deal to reduce govt debt | The Express Tribune
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[ad_1] CAIRO: The International Monetary Fund’s new $3 billion financial support package for Egypt aims to reduce government debt to less than 80% of gross domestic product (GDP) in the medium term, a cabinet report released on Saturday said. The IMF did not require the Egyptian government to cut spending on subsidies, the report said,…
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Developing economies’ debt more than doubled over decade: World Bank
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[ad_1] A person enters the World Bank’s building in Washington. — AFP/File WASHINGTON: The external debt of developing economies has more than doubled from a decade ago to $9 trillion in 2021, the World Bank said Tuesday, warning the debt crisis facing these countries has intensified. The pandemic has forced many countries to take on…
