Despite Missing Deadlines, Pakistan Gets $1.13 Billion IMF Loan
The International Monetary Fund announced Friday that it will release $1.13 billion aid package for Pakistan despite country’s failure to meet conditions specified in loan agreement. Pakistan had requested for a waiver for its inability to meet quarterly budget deficit target and net government borrowing limits from the State Bank of Pakistan. Murilo Portugal, IMF’s [...]
Pakistan Claims Lower Inflation- Maintains Interest Rate
The State Bank of Pakistan Saturday announced a cautious monetary policy, maintaining the interest rate to the current level of 12.5 percent because of concerns about remaining inflation pressures, the fiscal slippage in the second quarter, and the availability of external financing. Addressing a press conference State Bank of Pakistan Governor Salim Raza said inflation [...]
Rental Power Plants Not Suitable For Pakistan
The Asian Development Bank told Pakistan Finance Minister Shaukat Tarin last week rental power plants will not be cost efficient and advised that even if the country wanted to proceed with the plan it should reduce project size in half, Dawn reports Monday.
Pakistan projects GDP growth higher than expected
State Bank of Pakistan yesterday projected the real gross domestic product growth for current fiscal year 0.3 percent higher than expected by economist.
IMF Loan Stifling Pakistan Economy
IMF’s sub-prime loan to Pakistan has conditions that impact life and livelihoods of ordinary citizens and no TV anchor, no mainstream journalist is willing to scrutinize this debt? I wonder why?
IMF Asks Pakistan To Cut Spending
IMF official claimed that Pakistan needs to cut some development and non-development spending and boost revenue collection. Mazarei said that uncertainties about the government’s financing needs are limiting the central bank’s ability to lower interest rates.
Ibrahim Sajid Malick is a Pakistani-American writer, technologist, and social entrepreneur. He has been writing on Pakistani society and politics since 1986. He has held several media, communications, and technology positions for organizations large and small. Mr. Malick graduated from New School for Social Research with a master’s degree in anthropology. He holds several technology and management certifications. He works for a leading technology firm and blogs at www.ibrahimsajidmalick.com