IMF board to review Pakistan’s $7b loan on September 25 after key conditions met | The Express Tribune
ISLAMABAD: The International Monetary Fund (IMF) has confirmed that its Executive Board will meet on September 25 to discuss the approval of Pakistan’s $7 billion Extended Fund Facility (EFF). The loan is crucial for stabilising Pakistan’s economy, which has been grappling with rising inflation and dwindling reserves. IMF spokesperson Julie Kozack announced the meeting during […]
IMF yet to include Pakistan’s $7b EFF on Executive Board agenda | The Express Tribune
The International Monetary Fund (IMF) has not yet added Pakistan’s new 37-month Extended Fund Facility (EFF) to the agenda for its Executive Board meetings scheduled through September 18, according to the Fund’s official website. The upcoming meetings, set for September 9, 13, and 18, do not include the $7 billion EFF agreement reached with Pakistan, […]
Pakistan’s economic crisis drives women into workforce | The Express Tribune
Amina Sohail veers through heavy traffic to pick up her next passenger — the sight of a woman riding a motorcycle drawing stares in Karachi. The 28-year-old is the first woman in her family to enter the workforce, a pattern emerging in urban households coming under increasing financial pressure in Pakistan. “I don’t focus on […]
Finmin Aurangzeb outlines Pakistan’s path to sustainable economic growth | The Express Tribune
Pakistan’s Finance Minister Muhammad Aurangzeb has reaffirmed the government’s commitment to steering the economy toward stability and sustainable growth. Speaking at a recent media briefing, Aurangzeb addressed the country’s ongoing economic challenges and the efforts being made to overcome them. He highlighted that despite the difficulties, significant progress has been made, particularly in terms of […]
Pakistan’s inflation drops to single digit after nearly 3 years
A shopkeeper uses a calculator while selling spices and grocery items along a shop in Karachi on June 11, 2021. — Reuters ISLAMABAD: Pakistan’s annual core inflation, measured by Consumer Price Index (CPI), decelerated further to 9.6% in August, the first single-digit reading in almost three years, the Pakistan Bureau of Statistics (PBS) said on […]
Moody’s upgrades Pakistan’s ratings to ‘Caa2’ on improved economic outlook
Signage is seen outside the Moody’s Corporation headquarters in Manhattan, New York, US, November 12, 2021. — AFP/File Taking into account the recent improvement in macroeconomic conditions, global credit rating agency Moody’s Ratings on Wednesday upgraded Pakistan’s local and foreign currency issuer and senior unsecured debt ratings to Caa2 from Caa3. “We have also upgraded […]
Moody’s raises Pakistan’s ratings to caa2, reflecting better outlook | The Express Tribune
Moody’s Ratings has upgraded Pakistan’s local and foreign currency issuer and senior unsecured debt ratings from CAA3 to CAA2, while changing the country’s outlook from stable to positive. This decision reflects the country’s improving macroeconomic conditions and moderately better government liquidity and external positions, despite remaining challenges. The upgrade to CAA2 signifies a reduction in […]
Pakistan’s oil output drops by 25% in 10 years: PPIS | The Express Tribune
Listen to article Crude oil production in Pakistan decreased from 94,500 barrels per day in 2015 to 70,500 barrels per day in 2024, according to the Pakistan Petroleum Information Service (PPIS). Gas production also saw a significant decline, dropping by 900 million cubic feet per day (MMCFD) over the same period. In 2015, Pakistan’s daily gas production […]
SIFC initiatives boost Pakistan’s exports to $30.64 billion | The Express Tribune
ISLAMABAD: Pakistan achieved a remarkable boost in its exports during the fiscal year 2023-2024, driven by the efforts of the Special Investment Facilitation Council (SIFC), according to data released by the Pakistan Bureau of Statistics (PBS), The country’s export of goods soared by 10.54%, reaching $30.64 billion, compared to the previous year. While exports increased, […]
Capacity charges are just the tip of Pakistan’s power sector iceberg | The Express Tribune
Pakistan’s power sector woes are a hot topic, often attributed to capacity charges as the primary cause of circular debt and high electricity costs. However, the reality is far more complex. The public’s lack of exposure to the true causes makes it challenging to convey the consequences of our cumulative failures in power sector policies, […]