The finance minister made these remarks during a panel discussion at the AlUla Conference for Emerging Market Economies in AlUla City Saudi Arabia on Monday. The discussion was moderated by the Managing Director of the International Monetary Fund Kristalina Georgieva. Muhammad Aurangzeb emphasized the government’s commitment to implementing tough, but necessary policy choices to ensure […]
He was addressing a ceremony organized by PPP Chairman Bilawal Bhutto Zardari in honor of Karachi traders. “I have heard all your issues today. Karachi runs the entire country but, unfortunately, this province does not receive its due share.” Shah underlined Karachi’s pivotal role in driving Pakistan’s economy, describing it as the nation’s “growth engine.” […]
Gross domestic product shrank 0.1% month-on-month in October, as it did in September, the Office for National Statistics said. It was the first consecutive drop in monthly GDP – which is volatile and prone to revision – since March and April 2020, when Britain enforced its first coronavirus lockdown. Economists polled by Reuters had forecast […]
The comments came six weeks after New Delhi and Beijing reached a deal to resolve a four-year military stand-off that had damaged the relationship between the Asian giants, indicating that India is willing to improve business ties that were also hurt. Relations between the world’s two most populous nations – both nuclear powers – have […]
Kenya is considered an economic bright spot in the troubled East African region. But it is grappling with around $80 billion in external and domestic debt, and interest payments are eating up two-thirds of its annual revenue, more than its bills for health or education. An International Monetary Fund review was delayed by protests that […]
Speaking to newsmen after the IMF Executive Board meeting, Kristalina Georgieva congratulated the government and people of Pakistan She also praised the country’s economic situation, citing significant reforms and improved growth. The IMF Managing Director said that Pakistan has made reforms and the country’s economy has improved. She said that Pakistan presented its reform program […]
The world’s second-largest economy has yet to achieve a highly anticipated post-pandemic recovery, and the government has set a goal of five percent growth in 2024 — an objective analysts say is optimistic given the headwinds it is facing. On Tuesday, central bank chief Pan Gongsheng told a news conference in Beijing that it would […]
The board’s agenda includes discussions on seven countries, including Vietnam, Uganda, and Denmark. A meeting regarding Pakistan is anticipated once the country fulfills the remaining preconditions. As per sources within the finance ministry, the government is optimistic about meeting the requirement of securing an additional $2 billion in external financing soon. Efforts have intensified to […]
The central bank said in a statement it had set an interest rate of 0.25 percent — up from around zero to 0.1 percent — having ditched its maverick negative rate policy aimed at boosting economic growth in March. Its decision, announced after a two-day policy meeting, caused the yen to surge briefly before weakening […]
The new program, which needs to be validated by the Fund’s Executive Board, should enable Pakistan to “cement macroeconomic stability and create conditions for stronger, more inclusive and resilient growth,” according to a statement. The agreement is subject to approval by the IMF’s executive board. “The program aims to capitalize on the hard-won macroeconomic stability […]