KARACHI: The Pakistan bourse gained 1.8 per cent for the week ended January 4, 2022, as investors took positions on financial results speculations and strong rupee recovery; following the approval of $1 billion tranche by the International Monetary Fund (IMF), dealers said, adding that the market would perform well, going forward. The Pakistan Stock Exchange … Read more
ISLAMABAD: With the overall debt liabilities of $5.5 trillion, including the external debt of over $127 billion, Pakistan’s economy remains stuck in a vicious cycle. The government is being forced to borrow from every possible quarter just to meet the debt repayment liabilities and finance the budgetary gap. Experts believe that the government should revisit … Read more
In 1785, Robert Burns reflected on how humanity has come to dominate our planet: “I’m truly sorry man’s dominion, has broken nature’s social union,” he wrote. The Scottish poet’s words still ring true two centuries later. Man-made climate change threatens our planet’s ecosystem and the lives and livelihoods of millions of people. From the IMF … Read more
BEIJING: A funding crisis battering China’s big property developers could start to shake the wider economy and global markets, the IMF warned on Friday, saying deeper reforms were needed to fully curb the threat. The International Monetary Fund’s report comes as property firms in the world’s second-biggest economy struggle with liquidity problems as Beijing looks … Read more
The State Bank of Pakistan said on Friday that it had received $1.053 billion from the International Monetary Fund after the successful completion of 6th review of Extended Fund Facility (EFF) programme for Pakistan. “Following the successful completion of the 6th review of the IMF program, #SBP has received the next tranche of $1.053 billion,” the … Read more
KARACHI: The rupee continued its sharp recovery against the dollar and made a gain of Rs1.04 on Friday. The exchange rate ended at Rs174.48 against the greenback from the previous day’s closing of Rs175.52 in the interbank foreign exchange market. The rupee maintained gaining momentum for the last eight consecutive days since reaching Rs176.98 on … Read more
WASHINGTON: IMF Managing Director Kristalina Georgieva said on Thursday the fund would only support a “comprehensive programme” for Lebanon that would tackle all the country’s ills, including corruption. “Our team is working very closely with their Lebanese counterparts,” Georgieva told reporters. “We are stressing that it has to be a comprehensive program.” Lebanese officials began … Read more
WASHINGTON: IMF Managing Director Kristalina Georgieva on Thursday said there was no alternative to a pending agreement with the Washington-based crisis lender to get Argentina out of its spiral of inflation and poverty. “Our main focus is to get Argentina out of this very dangerous path of high inflation,” she told reporters. Last week, Argentina … Read more
KARACHI: The Pakistani rupee made a recovery of 89 paisas against the dollar on Thursday after the International Monetary Fund (IMF) board approved the disbursement of over $1 billion for Pakistan. The exchange rate ended Rs175.52 to the dollar from the previous day’s closing of Rs176.41 in the interbank foreign exchange market. The dealers said … Read more
ISLAMABAD: Pakistan Peoples Party (PPP) Vice-President Senator Sherry Rehman on Thursday said the government accepted the International Monitory Fund (IMF)’s unacceptable terms. “Billions of rupees were taxed on the people for a $1 billion tranche. There is no need to celebrate the $1 billion loan,” Sherry Rehman tweeted. The PPP leader said stability in the … Read more
Jamiat Ulama-e-Islam (JUI-F) Chief Maulana Fazlur Rehman on Tuesday said the incumbent rulers have pushed the people into destitution and mortgaged the country to the International Monetary Fund (IMF). Addressing a public gathering in Chaman, he said the foreign reserves have plummeted to ‘zero’ as the country has been mortgaged to IMF. JUI-F chief said … Read more
KARACHI: The rupee recovered five paisas against the dollar on Monday on the expectations of release of the next International Monetary Fund (IMF) tranche, dealers said. The exchange rate ended at Rs176.72 against the dollar from last Friday’s closing of Rs176.77 in the interbank foreign exchange market. The Executive Board of the IMF is scheduled … Read more
WASHINGTON: The IMF called on El Salvador to change course and stop using Bitcoin as legal tender, citing “large risks” posed by the cryptocurrency. The small Central American nation in September became the first country in the world to embrace the digital money, allowing consumers to use it in all transactions, alongside the US dollar. … Read more
KARACHI: The surging global crude oil prices are likely to keep the rupee under pressure despite the measure taken by the State Bank of Pakistan (SBP) to provide support to the local currency. The hike in international oil prices coupled with the declining forex reserves of the country kept the rupee under pressure during the … Read more
KARACHI: The Pakistan Stock Exchange (PSX) likely to open higher following positive cues from the upcoming IMF programme, analysts said. The witnessed dull trading activities during the week ended January 28, 2022 as the investors remained concerned over the uncertainty regarding the International Monetary Fund (IMF) $1 billion tranche along with rising oil prices in … Read more
WASHINGTON: The world is changing. From Covid-19 and climate change to digitalisation and diverging demographics, the IMF’s member countries are confronting new challenges. The impacts of these challenges are being felt unevenly across countries and will inevitably play out in their balance of payments, potentially undermining global economic stability. It is therefore important that the … Read more
KARACHI: The Pakistan equity market is witnessing a rising trend of foreign investment, as the country’s economy is returning to normalcy after some relief from the Covid-19 pandemic. “The local market is expected to attract net inflow of $150 to $200 million in 2022, as the country make progress with the International Monetary Fund (IMF), … Read more
KARACHI: The imposition of sales tax on the import of solar panels in Pakistan would increase their price by about 30 per cent, Arab News quoted dealers and importers as saying on Wednesday. It would also make it difficult to add clean power to the country’s energy mix in the coming years, they added. Pakistan levied sales … Read more
KARACHI: The government, amid a heated session of the National Assembly, managed to pass the Supplementary Finance Bill 2021 and the SBP Amendment Bill 2021 in a super long session. The SBP Amendment Bill, being a legislative bill, would be presented in the Senate after which it will be referred to the Standing Committee on … Read more
TUNIS: Tunisia’s crisis-stricken economy needs “deep reforms” such as slashing its vast public wage bill, the International Monetary Fund’s outgoing country chief has said as the government seeks a new bailout. Jerome Vacher, speaking in an interview at the end of his three-year term as the global lender’s envoy to the North African country, said … Read more
NEW YORK: Crypto assets such as Bitcoin have matured from an obscure asset class with few users to an integral part of the digital asset revolution, raising financial stability concerns. The market value of these novel assets rose to nearly $3 trillion in November from $620 billion in 2017, on soaring popularity among retail and … Read more
KARACHI: The Pakistan stocks dropped 1.62 per cent during the week ended January 21, 2022, amid rising Covid infections and uncertainty over the upcoming monetary policy. “Going forward, we expect the market direction to take a cue from the upcoming monetary policy announcement coupled with the IMF board meeting,” an analyst at Pearl Securities said. … Read more
KARACHI: The rupee gained 15 paisas against the dollar on Monday, as holiday in the US markets lowered the foreign currency demand in the domestic market, dealers said. The interbank foreign exchange market ended at Rs175.92 against the dollar from last Friday’s closing of Rs176.07. The dealers said the US markets were observing the holiday … Read more
KARACHI: To win funding from the International Monetary Fund (IMF), Pakistan has passed a mid-year finance bill withdrawing exemptions of Rs350 billion on sales tax and a law to grant its central bank greater autonomy. The IMF set a condition of budgetary tightening for the revival of a stalled $6 billion package before the approval of … Read more
The fertiliser manufacturers’ stable revenue stream and margins keep the sector favourite in the market. The firm earnings bode well with the sector’s cash rich position for sustainable payouts, making their dividend yields attractive at the current levels. The DAP manufacturer, Fauji Fertilizer Bin Qasim (FFBL), is in a sweet spot. The DAP prices in … Read more
KARACHI: The Pakistan stocks witnessed a lacklustre and volatile week ended January 14, 2022 and closed 0.92 per cent up, while the analysts believe the index will perform well, going forward. “The passage of the mini-budget should address the fiscal concerns, while the revival of EFF facility with the IMF will not only allow resumption of … Read more
ISLAMABAD: Finally, the government has met all the conditions of the International Monetary Fund (IMF) for the review of the $6 billion programme, and the entire nation is already bearing its repercussions in the form high inflation, an economic slowdown and increase in the cost of doing business. For Finance Minister Shaukat Tarin the current … Read more
KARACHI: Since the start of FY21, Pakistan’s economy has started recovering, but the boom in the international commodity prices after the opening up of global economies, amid ample liquidity, brought the country’s external account under pressure. “The economy is now on the path of stabilisation due to painful yet necessary policy measures undertaken by the … Read more
