Economy
IMF Board approves $1.4 bln disbursement to Pakistan for COVID-19
Islamabad, April 17, 2020: The International Monetary Fund (IMF) board has approved the disbursement of US$1.386 billion under the Rapid Financing Instrument to address the economic impact of the Covid-19 shock. The Executive Board of the International Monetary Fund (IMF) on Thursday approved a purchase of Pakistan under the Rapid Financing Instrument (RFI) equivalent to…
Employment and investment confidence plummets as Pakistan economy fights Covid-19
Karachi, April 07, 2020: Accountancy experts say economic confidence in Q1 has capitulated as the Pakistani economy struggles to get to grips with the fallout from the Coronavirus. A national survey of senior accountancy practitioners, who reflect the outlook of a large number of businesses they advise, found that confidence has fallen by more than…
Pakistan stock declines 3.3 pc on Monday
Karachi, April 6, 2020: The Pakistan Stock Exchange (PSX) closed lower on the first trading day of the week. The market opened on a positive note this morning but came under the hammer nose diving 1,118 points to finally close at 30,579 levels, down 3.3 percent. Overall market remained bearish with low volumes and limited…
SBP further cut policy rate by 150 bps to support economy
Karachi, March 24, 2020: At its last meeting on 17th March 2020, the Monetary Policy Committee (MPC) noted considerable uncertainty about how the Coronavirus outbreak would impact the global economy and Pakistan. In the statement issued following that meeting, the MPC “emphasized that it stood ready to take further actions if and when needed as…
IMF is our partner in economic reforms: Reza Baqir
Karachi, March 04, 2020: State Bank of Pakistan (SBP) Governor Dr Reza Baqir Tuesday said that the International Monetary Fund (IMF) is government’s partner in reforming the country’s current economic system. In a briefing to the Public Accounts Committee (PAC) under the chairmanship of Rana Tanvir Hussain, the governor further said the relationship with IMF…