KARACHI: The rupee recovered 33 paisas against the dollar on Friday amid reports of debt rescheduling agreements signed by Pakistan. The exchange rate ended Rs177.50 to the dollar from the previous day’s closing of Rs177.83 in the interbank foreign exchange market. The rupee made a recovery after declining for three straight days. Pakistan, a day … Read more
ISLAMABAD: Pakistan has signed agreements with the Saudi Fund for Development (SFD) for suspension of debt servicing of $846 million for six years under the G20’s Debt Service Suspension Initiative (DSSI). The total amount of Pakistan’s external debt that has been suspended and rescheduled under the DSSI framework is about $3.688 billion, covering the period … Read more
WASHINGTON: China has an important part to play in the global economy, as it recovers from the Covid-19, but its growth is slowing, IMF managing director Kristalina Georgieva said on Monday. The head of the Washington-based crisis lender held a virtual meeting with Chinese Premier Li Keqiang and discussed topics ranging from inflation to the recovery … Read more
ISLAMABAD: Japan was focusing on developing a strong export base in Pakistan and was looking beyond the traditional sectors of textiles and automobiles, a diplomat said. During a call on meeting with Federal Minister for Finance and Revenue Shaukat Tarin Japanese Ambassador to Pakistan Kuninori Matsuda said that his country saw opportunities for investment in … Read more
G20 countries agreed on a final extension of the Debt Service Suspension Initiative by six months till the end of December this year. According to the details, a statement issued by the G20 states said that many economies around the world are facing a third wave of coronavirus. Owing to this situation loans from low-income … Read more
