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 […]
The Secretary, of the Ministry of Economic Affairs, Dr. Kazim Niaz, signed on behalf of the Ministry, while Chairman WAPDA, Lt. Gen. (Retd.) Sajjad Ghani, represented WAPDA, said a news release. Ambassador of Kuwait in Pakistan Nassar Abdulrahman Jasser Al. Mutairi graced the ceremony with his presence. This significant financing comes as a result of […]
The prime minister expressed these views while chairing the first meeting of the Economic Advisory Council, PM Office Media Wing said in a press release. The meeting was attended by council members including Jahangir Khan Tareen, Saqib Sherazi, Shahzad Saleem, Mussadiq Zulqarnain, Dr Ejaz Nabi, Asif Pir, Zaid Bashir, Salman Ahmed, and Sheharyar Chishti. Federal […]
The premier landed in Karachi early on Wednesday morning on a day-long visit. According to Sindh CM House spokesperson, PM Shehbaz Sharif, and CM Murad discussed issues relating to development works in the province. Shah complained about a shortage of funds worth Rs82 billion from the federal government. He also raised the issue of non-provision […]
Led by Foreign Minister Prince Faisal bin Farhan, the high-powered Saudi delegation arrived here Monday on a two-day visit essentially to expedite the follow-up on the understanding reached between Prime Minister Muhammad Shehbaz Sharif and Saudi Crown Prince Mohammad bin Salman during their recent meeting in Makkah Al Mukarramah to enhance bilateral economic cooperation. Recalling […]
