Pakistans
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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…
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In meeting with Dar, British envoy offers UK’s help in easing Pakistan’s economic crisis
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[ad_1] Acting British High Commissioner Andrew Dalgleish (left) calls on Finance Minister Ishaq Dar on April 12, 2023. — APP Acting British High Commissioner Andrew Dalgleish met Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Wednesday and offered the United Kingdom’s help in easing Pakistan’s economic crisis. During the meeting, the officials discussed…
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IMF cuts Pakistan’s growth forecast, sees hike in inflation | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has reduced the economic growth forecast of Pakistan to 0.5% as well as steeply increased inflation projections far above 20% for two years — underscoring that the people’s hardships would not end soon and interest rates might remain at their highest levels. The IMF’s World Economic Outlook report…
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CPEC Authority: a game changer for Pakistan’s future? | The Express Tribune
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[ad_1] ISLAMABAD: China is currently focused on revitalising the Belt and Road Initiative (BRI), which was expected following the relaxation of Covid-19 policies. Since the recent two sessions, efforts to do so have been accelerated. It is anticipated that China will offer new opportunities for investment, with Chinese companies likely to invest in countries along…
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Robust reforms crucial for Pakistan’s economic recovery: ADB
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[ad_1] Asian Development Bank’s logo. — AFP/File The Asian Development Bank (ADB) said Tuesday that Pakistan’s economic growth is expected to slow significantly in FY2023 (ends 30 June 2023) in the wake of last year’s devastating floods, ballooning inflation, a current account deficit, and an ongoing foreign exchange crisis. According to the Asian Development Outlook…
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World Bank slashes Pakistan’s GDP forecast
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[ad_1] World Bank Group written on the bank’s building. — AFP/File Tighter financial conditions and limited fiscal space have weakened Pakistan’s growth prospects, the World Bank said, prompting the institution to cut the country’s current-year growth forecast. Compared to its October forecast of 2%, the World Bank now expects Pakistan’s economy to grow by 0.4%,…
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Pakistan’s cotton yield 50% lower than region | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is facing a sharp decline in cotton production as its per-acre yield has contracted to just half of the cotton productivity in regional countries. Owing to thin profit margins for cotton planting, farmers have switched over to other crops like rice, maize and sugarcane. Economic policymakers have expressed serious concern over the…
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Pakistan’s current account deficit hits two-year low | The Express Tribune
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[ad_1] KARACHI: Pakistan’s current account deficit (CAD) hit a two-year low of $74 million in a month, narrowly failing to turn around the country’s deficit into surplus in February. The government achieved the significantly low deficit through limiting imports to manage with low foreign exchange reserves and high risk of default on foreign debt repayments.…
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Importance of e-commerce for Pakistan’s growth | The Express Tribune
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[ad_1] KARACHI: The e-commerce sector in Pakistan has achieved significant growth over the past few years, thanks to the increasing internet and smartphone penetration. According to a report of eMarketer, Pakistan’s e-commerce sales are projected to reach $2.1 billion by 2023, up from $1.2 billion in 2018. This article will explore the state of e-commerce…
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Moody’s downgrades Pakistan’s rating to Caa3
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[ad_1] Moody’s headquarters in New York, US. — AFP/File SINGAPORE: Moody’s Investors Service Tuesday downgraded Pakistan’s local and foreign currency issuer and senior unsecured debt ratings to Caa3 from Caa1 as the cash-strapped country struggles to resurrect a long-suspended International Monetary Fund (IMF) loan. Islamabad has been in talks with the Washington-based money lending institution to…
