Atif Mian, a well-respected economist, has criticized Pakistan’s economic policy terming it ‘non-sensical’. While comparing the experience of Ghana and Sri Lanka, he has concluded that Pakistan should “take decisive actions, aggressively restructure and take courageous actions”. This is ...

China has urged the world to play its role in strengthening Pakistan’s economy. Answering a question regarding Pakistan during a press conference in Beijing, China’s Foreign Ministry spokesperson Mao Ning said that both Pakistan and China were strategic partners and ‘iron ...

The current account recorded a significant deficit of $17.4 billion for the financial year 2021-22 (FY22) as against $2.82 billion reported during the financial year 2020-21 (FY21), stated the State Bank of Pakistan (SBP). This is primarily due to the high trade deficit, which was impacted by ...

KARACHI: The country’s foreign exchange reserves held by the State Bank of Pakistan (SBP) continued to decline on a weekly basis. On July 15, the foreign currency reserves held by the SBP were recorded at $9,328.6 million, down $389 million compared with $9,717.5 on July 7, data released by the ...

The economic and political uncertainty will challenge the pace of Pakistan’s fiscal consolidation in the fiscal year 2023, says Moody’s Investors Services (Moody’s). The credit rating agency in its latest report “Government of Pakistan – B3 negative, Annual credit analysis, overview, ...

The ongoing political uncertainty in the country is a serious threat to Pakistan’s economic well-being according to the World Bank. The World Bank’s (WB) Pakistan Development Update that was released on Tuesday highlights that sustaining the economic recovery requires addressing long-standing ...

The International Monetary Fund (IMF) has projected Pakistan’s GDP growth rate at 4 percent for 2022 against 5.6 percent in 2021 and projected a rise in inflation from 8.9 percent in 2021 to 11.2 percent in 2022. IMF in its latest report “World Economic Outlook (WEO), War sets back the global ...

*The World Bank cut its economic growth forecast for Pakistan by almost one per cent, citing last ditch energy subsidies by the outgoing government.* “GDP growth is expected to slow to 4.3pc in FY22 (against 5.6pc last year) and to 4pc in FY23,” the WB said in its report. The ...

Islamabad :: With Pakistan facing political turmoil and a sliding economy, further deterioration in its external position including widening of current account deficit and erosion of foreign exchange reserves, would threaten the government's external repayment position, global credit rating agency ...

Credit rating agency "The Moody's" has raised concerns over No Confidence Motion tabled by the opposition parties in Pakistan against Prime Minister Imran Khan, saying that it would put significant pressure on the country's economy. In a statement, the agency said that the no-confidence motion is ...