Due to the Ramazan factor, the remittances sent by overseas Pakistani workers grew 27.4 per cent month-on-month in March, but the country lost $2.5 billion in the first nine months of FY23 due to an artificial exchange rate cap. The State Bank of Pakistan (SBP) reported on Monday that remittances rose to $2.5bn in March against $1.9bn in February. However, the inflows dipped 10.71pc when compar
The financial markets of any country are essential for its economic growth. About one out of 100 people in Bangladesh invests in the stock market, while 4.5 per cent of India’s population is involved in the financial markets. Considering these figures, it seems certain that the proportion of Pakistani investors would fall in the same range. However, the figure is quite dismal, with only 0.1pc o
Pakistan’s economy has long been suffering from several structural problems. But instead of finding sustainable solutions to those problems, our successive governments have often relied on quick fixes. These problems have so much compounded that the government of the day alone cannot address them successfully. Problems like alarmingly high levels of domestic and external debts, fiscal deficit,
When historians write about causes that led to the French Revolution, they frequently point out that King Louis XVI’s weakness, indecisiveness, and lack of political insight played a critical role in bringing about the downfall of the House of Bourbon in France. While perusing over the events that led to the Reign of Terror in France, one reads about the indecisiveness of Louis XVI, the failure
The collapse of Credit Suisse, a 167-year-old institution, is a more significant event for the global financial system than the collapse of Lehman Brothers during the 2008 global financial crisis. Lehman failed since it had losses on bad investments and did not have sufficient capital. Credit Suisse on the other hand was stable and had sufficient capital. It failed due to a run on its deposi