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 [...]
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 [...]
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.
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’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 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.