ISLAMABAD: The Federal Minister for Finance and Revenue Ishaq Dar has cancelled his trip to the United States to attend the spring meetings of the World Bank-IMF, where he was scheduled to meet with the IMF management to discuss the $1.1 billion loan tranche. The reason cited for the cancellation ...

ISLAMABAD – Predicting difficult times ahead, the World Bank revised Pakistan’s growth projections from 2 percent to 0.4 percent for the current fiscal year, citing tighter financial conditions and limited fiscal space among the primary reasons. The bank, in its report Pakistan Development ...

ISLAMABAD - Cash-strapped Pakistan has formally initiated the process to outsource operations of its three major airports. The Finance Ministry announced on Thursday that the airports would be run on public-private partnership, to avert the economic crisis that has impacted the country’s middle ...

ISLAMABAD – The International Monetary Fund has forecast Pakistan’s economic growth to lessen further to 2 percent during the current year, down to the previous estimate of 3.5 percent, in wake of the massive floods and slowdown in global growth rate. According to the World Economic Outlook ...

ISLAMABAD – Pakistan on Friday rejected media reports regarding Indian proposal for modification in the Indus Waters Treaty, the water-sharing agreement between nuclear neighbours in South Asia. Foreign Office Spokesperson Mumtaz Zahra Baloch issued the statement as a Court of Arbitration in ...

Pakistan’s trade numbers show an overall decline in the first half of the current fiscal year, and its export recovery is dependent on the pace of global economic recovery and reduction in uncertainty, according to World Bank Senior Economist, Gonzalo Verela. Pakistan’s July-December ...

ISLAMABAD – World Bank has approved a $1.692 billion financing package to support reconstruction efforts in Sindh after devastating floods. In a statement, the global lender said its Board of Executive Directors approved $1.692 billion in financing for five projects to support people living in ...

The government has requested the World Bank for restructuring and extending the $137 million Pakistan Financial Inclusion and Infrastructure Project aimed at increasing access and usage of digital payments and other financial services. According to the official documents, the project has ...

Pakistan and the International Monetary Fund have begun online talks on the ninth review of a $7 billion bailout package. This was stated by IMF Islamabad representative Esther Pérez Ruiz. “As part of the 9th review under the EFF, remote discussions continue between IMF staff and the ...

Pakistan’s default risk entered alarming new levels this week as the cost of ‘insuring’ the country’s sovereign debt shot up, scaring away investors. According to data by Arif Habib Limited (AHL), Pakistan’s benchmark 5-year Credit Default Swap (CDS) spiked on 11 November by 394 basis ...