Pakistans
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Fitch upgrades Pakistan’s rating to ‘CCC’ after IMF deal | The Express Tribune
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[ad_1] . Pakistan’s long-term foreign currency issuer default rating (IDR) received a boost as global rating agency Fitch upgraded it from ‘CCC-‘ to ‘CCC’ on Monday. The upgrade was attributed to enhanced external liquidity and improved funding conditions, which were a result of the recent staff-level agreement between Pakistan and the International Monetary Fund (IMF)…
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Is the IMF actually interfering in Pakistan’s politics? | The Express Tribune
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[ad_1] ISLAMABAD: The recent meetings of the International Monetary Fund (IMF) officials with leaders of major political parties have sparked a debate with some people viewing them as the lender’s interference in the country’s internal affairs and an attempt to manipulate its politics. Recently, an IMF team made direct contact with major political parties, including…
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IMF deal averts Pakistan’s likely default: American expert
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[ad_1] Shipping containers are seen stacked on a ship at a sea port in Karachi, Pakistan, April 6, 2023. — AFP As the International Monetary Fund (IMF) announced that it has reached a staff-level agreement (SLA) with Pakistan, the director of the South Asia Institute at the Wilson Center said that the financial deal would prevent…
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Pakistan’s energy shortfall ‘surpasses 8,500 megawatts’
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[ad_1] People at a hotel during a power outage. — AFP/File LAHORE: With heatwave-like conditions across the country, the prolonged power outages have added to the citizens’ misery as the overall energy shortfall has surpassed 8,500 megawatts, sources told Geo News Sunday. The sources familiar with the matter said the country’s total energy requirement stands…
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Pakistan’s 2024 budget a missed opportunity: IMF | The Express Tribune
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[ad_1] ISLAMABAD’: The International Monetary Fund (IMF) on Wednesday said that the proposed budget missed the opportunity to broaden the tax base, terming the new tax amnesty scheme a “damaging precedent”. In a first official reaction to the expansionary Rs14.5 trillion budget, Esther Perez Ruiz, the resident representative of the IMF, said that the amnesty…
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Pakistan’s chances of securing IMF bailout are dimming: Moody’s
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[ad_1] An undated image of Moody’s headquarters in New York, US. — AFP/File Moody’s Investors Service has warned that Pakistan is at an increased risk of failing to restart its $6.7 billion bailout programme with the International Monetary Fund (IMF), putting the country closer to a sovereign default. Grace Lim, a sovereign analyst with the…
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Pakistan’s CPI inflation spikes to record high on runaway food prices
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[ad_1] An undated image of consumers buying fresh vegetables from a local market. — AFP/File The consumer price index (CPI) based inflation in Pakistan surged to a record 38% on a year-on-year (YoY) basis in May 2023, the highest since July 1965, largely fired up by runaway food prices that continue to defy curbs. Pakistan…
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IMF review to conclude after Pakistan’s financing in place
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[ad_1] The International Monetary Fund’s logo. — AFP/File As Pakistan seeks to secure crucial International Monetary Fund (IMF) funding to avoid an economic collapse, the lender said it is working with the government to conclude the ninth review of the bailout programme, Reuters reported Friday. The Washington-based lender and the federal government are in talks…
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Import ban pushes Pakistan’s current account into surplus | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s current account recorded a surplus in March, the highest in two years, the State Bank of Pakistan (SBP) alongwith other market analysts said, following stringent import restrictions to manage the economy’s turmoil. Pakistan is trying to get an IMF bailout back on track and both sides have been engaged since early February in talks to clear…
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Is there a fix for Pakistan’s economic nightmare? | The Express Tribune
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[ad_1] PUBLISHED April 16, 2023 LAHORE: As Pakistan faces one of its worst economic crises, there is so much speculation about the present, past and future scenarios. Amidst the noise of what could have been done, what should be done, and what will be done is the reality of what is. Sifting through the propaganda…
