Federal Minister for Finance and Revenue Muhammad Aurangzeb on Thursday said that fundamental economic reforms were needed to make the existing IMF programme the last one for the country. Transformation of economy into an export-driven one necessitates structural reforms, only then could the country move forward in the next three years, the minister said in an interview with Voice of America a
n a significant development, the Pakistan Stock Exchange (PSX) surged to an all-time high as political calm and anticipation of approval of a $7 billion Extended Fund Facility (EFF) of the International Monetary Fund (IMF) bolstered investor confidence. In the morning, trading got off to a lacklustre start with the KSE-100 index hitting its intra-day low of 81,524.41 points before midday owing
The Asian Development Bank (ADB) said on Wednesday that rising political and institutional tensions in Pakistan may jeopardise its economic reforms agenda whose implementation is very critical for smooth inflows of foreign loans under the new International Monetary Fund (IMF) programme. In its Asian Development Outlook, the Manila-based lender projected only 2.8% economic growth for Pakistan in
During the tenure of Pakistan Tehreek-e-Insaf (PTI) and the Pakistan Democratic Movement (PDM) governments, the country received $9.81 billion from international financial institutions and foreign countries to fund various development projects. Pakistan paid a total of $889.16 million in interest on these loans during the five-year period. According to official documents, the Asian Developme
Global growth is in the process of stabilising as the drag from central bank rate hikes fades and falling inflation boosts households' incomes, the Organisation for Economic Cooperation and Development (OECD) said on Wednesday, marginally raising its outlook for this year. The world economy was projected to grow 3.2% both this and next year, the OECD forecast, nudging up its 2024 forecast from