Acknowledging Pakistan’s better-than-anticipated current account show last fiscal year, the International Monetary Fund (IMF) expects the country’s economy to perform better in the current and next fiscal years compared to other multilateral agencies’ projections despite macroeconomic challenges. The IMF’s World Economic Outlook for October, released on Tuesday, forecasts a growth of 2.5 per c
Share prices rose on the Pakistan Stock Exchange on Monday despite a selloff in the early hours of trading. Topline Securities Ltd said the KSE-100 index slid into the red zone in the early part of the session but buying interest resumed in the last hour, letting the benchmark close on the higher side. The sell-off in the initial hours could be attributed to an uptick in international oil pr
The IMF and World Bank began talks on Monday in their first annual meetings on African soil in 50 years, under pressure to reform to better aid poor nations blighted by debt and climate change. The International Monetary Fund and World Bank traditionally hold their annual gathering of finance ministers and central bank governors outside their Washington headquarters every three years. The so
Opec heavyweights said on Sunday oil and gas should not be stigmatised in the climate debate and that the industry had a role to play in an orderly energy transition. Energy ministers from Saudi Arabia, the United Arab Emirates and Iraq, the three largest members of the Opec, have gathered in the Saudi capital Riyadh for the UN MENA climate week. “The three of us here as major hydrocarbon pr
The World Bank has raised concerns over Pakistan’s approach to privatising its state-owned entities (SOEs) and highlighted the adverse impacts of judicial activism, political nuisance, sale of K-Electric and what it called the botched Sarmaya-i-Pakistan model. The financial institution cautioned the government of looming litigation in divestments to foreign states under government-to-government