Everyday happening in Pakistan and around
The Pakistan Stock Exchange (PSX) fell over 500 points for a fifth consecutive session on 26 June, due to a stalemate between Pakistan and the International Monetary Fund (IMF) regarding the resumption of a bailout programme. While some investors are optimistic, sensing that a staff-level agreement is near, others are sceptical. The KSE-100 Index closed at 40,376.1, […]
Pakistan could be heading towards default unless it secures the remaining $2.6bn in aid under its current International Monetary Fund (IMF) bailout programme by June, according to analysts at Bloomberg, which added that the IMF was likely to release the funds. The country has already fulfilled most of the IMF’s conditions, the economists said. However, […]
The State Bank of Pakistan (SBP) is expected to raise its key policy rate at its upcoming Monetary Policy Committee meeting in early April as the country grapples with high inflation and is in talks with the International Monetary Fund (IMF) for the revival of its bailout package. Arif Habib Limited predicts the SBP will […]
The Pakistani rupee saw back-to-back gains against the US dollar last week, after Finance Minister Ishaq Dar said that documentation for disbursement of a large sum from ICBC had been completed. Following the statement, the rupee rose 0.15% last Thursday reaching a value of 282.42, before appreciating 0.25% the next day to 281.71. This increase comes as the dollar has […]
Pakistan’s Ministry of Finance has completed documentation for the second disbursement of $500m from China’s Industrial and Commercial Bank of China (ICBC). Ishaq Dar, Federal Minister for Finance, confirmed the release of funds to the State Bank of Pakistan (SBP), tweeting that this completes “out of Chinese ICBC’s approved rollover facility of $1.3bn…which was earlier […]
Political turmoil in Pakistan is holding up a $1.1bn tranche of funding from the International Monetary Fund (IMF), according to sources. The funds are part of a $6.5bn bailout package approved by the IMF in 2019, the conditions of which Pakistan has largely met. However, the IMF is seeking assurances that any future political administration […]
Pakistan’s Prime Minister, Shehbaz Sharif, has indicated that the staff-level agreement with the International Monetary Fund (IMF) will be reached “within a few days” as the government accepts the IMF’s toughest conditions for reviving the stalling $1.1bn loan tranche. The Prime Minister made the comments during an interview with Geo News, saying that joint efforts […]
According to Maryam Nawaz, a senior leader of the Pakistan Muslim League (N), Pakistan is a “hostage” to the International Monetary Fund (IMF), which is treating the country like a “colony”. Maryam also criticized the current government, led by Imran Khan, for flouting previous agreements with the IMF. She drew a comparison between her father […]
