Pakistan
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Fact-check: Does new Pakistan banknote omit anti-corruption message?
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[ad_1] Image showing the commemorative 75-rupee note. — Twitter/ SBP Multiple posts on Facebook and Twitter claim Pakistan’s central bank has omitted a quotation about the importance of earning an honest living from the newly introduced 75 rupee banknote. This is false. The quote — printed on all of Pakistan’s currency notes — has been…
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Pakistan to soon move out of FATF grey list, Dar assures
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[ad_1] A file photo of the FATF building. — AFP WASHINGTON: Pakistan will soon move out of the Financial Action Task Force’s (FATF) grey list, Finance Minister Ishaq Dar assured ahead of the watchdog’s plenary session that will decide the country’s fate. The first FATF plenary under the two-year Singapore Presidency of T Raja Kumar…
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Pakistan vows IMF reforms as flood damage estimated at over $16b
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[ad_1] Unprecedented monsoon rains submerged one-third of Pakistan — the world’s fifth most populous country. — AFP Finance Minister Ishaq Dar has promised international lenders to stay true to economic reforms despite a new estimate that his country quickly needs more than $16 billion to recover from devastating floods. Finance Minister Ishaq Dar also said that…
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PIA again cuts fare for flights from Pakistan to China
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[ad_1] Currently, PIA is operating two weekly flights on Islamabad-Chengdu-Islamabad and Islamabad-Xian-Beijing-Islamabad routes. — AFP/File The Pakistan International Airlines (PIA) has further cut down its fare to facilitate students and other passengers travelling from Pakistan to China with immediate effect. “Now, ex-Pakistan fare for students with taxes will be around Rs248,000 while ex-Pakistan fare for other…
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Pakistan to seek rescheduling of $27b bilateral debt: Dar
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[ad_1] Finance minister Ishaq Dar. — AFP/File Finance Minister Ishaq Dar said that he will be seeking rescheduling of the non-Paris Club debt worth $27 billion worth, primarily of which is owed to China, but said no to haircuts as part of any restructuring. Dar, who is on an official visit to the US, said…
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‘Pakistan on brink of debt default’ | The Express Tribune
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[ad_1] Renowned economist Steve Hanke has warned that Pakistan was on the brink of a “debt default”. “Its [Pakistan’s] sovereign bonds have lost more than 60% of their value this year. I’m not surprised,” he wrote on his official Twitter handle on Friday. Hanke said that Prime Minister Shehbaz Sharif’s government was failing to save…
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IMF, WB, IsDB vow continued support to Pakistan | The Express Tribune
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[ad_1] The International Monetary Fund (IMF), the World Bank (WB) and Islamic Development Bank (IsDB) on Thursday assured Pakistan of complete cooperation and support as the country suffers from the consequences of devastating floods. The commitments of continued support to the country by the lenders were made during separate meetings with Finance Minister Ishaq Dar,…
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Pakistan for ‘roadmap’ to offset economic ‘shocks’ | The Express Tribune
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[ad_1] UNITED NATIONS: Pakistan, speaking for the Group of 77 (developing countries) and China, has called for a clear roadmap to overcome the recent series of “shocks” to the world economy, including the deadly coronavirus pandemic and the spike in commodities prices, that have disproportionately impacted the poorest countries. “The unequal impacts have been accompanied…
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WB announces allocating $2bn for Pakistan in flood-relief support
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[ad_1] Federal Minister for Finance and Revenue Ishaq Dar (centre) meets World Bank Country Director Najy Benhassine at Finance Division on October 8, 2022. — Finance Ministry ISLAMABAD: In a bid to help Pakistan tackle the ongoing climate-induced catastrophe, the World Bank Saturday announced the allocation of $2 billion in funds from existing projects for…
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World Bank to provide $2 billion in flood relief to Pakistan | The Express Tribune
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[ad_1] ISLAMABAD: The World Bank has announced a $2 billion fund to eke out the reconstruction of infrastructures and rehabilitation of millions of flood victims across Pakistan. World Bank Country Director Najy Benhassine announced the decision during a meeting with Finance Minister Ishaq Dar in Islamabad on Saturday, saying the funds will be allocated from…
