In a landmark move, the State Bank of Pakistan (SBP) has reduced the interest rate by 150 basis points to 20.5%, effective June 11, 2024. This decision marks a departure from the central bank’s previous stance, where the key lending rate remained unchanged for seven consecutive sessions. First Rate Cut in Four Years This is … Read more
The International Monetary Fund (IMF) has projected a GDP growth rate for Pakistan of 2 percent for the current fiscal year 2024, reflecting a notable improvement from the -0.2 percent recorded in fiscal year 2023. Alongside this growth, the IMF forecasts a decline in inflation from 29.2 percent to 24.8 percent and a decrease in … Read more
Pakistan Finance Minister Muhammad Aurangzeb has already made his way to Washington and is scheduled to meet with IMF Managing Director Kristalina Georgieva as soon as possible. It’s been reported that Aurangzeb will present two requests for a new bailout: first, to secure funds through the lender’s Extended Fund Facility, and second, to receive additional … Read more
Kristalina Georgieva, IMF Managing Director, stresses the importance of resolving key issues for Pakistan to advance a follow-up program after the previous $3 billion stand-by arrangement. Georgieva acknowledges Pakistan’s notable economic progress and successful program completion, emphasizing the need to address critical concerns such as expanding the tax base, optimizing public spending, and enhancing financial … Read more
In an unprecedented move, the federal government has opted to conceal the proceedings of a significant economic decision-making body, the Economic Coordination Committee of the Cabinet. Traditionally, the Finance Division discloses major ECC decisions to the public through press releases following meetings. However, insider sources informed ProPakistani that the current Finance Minister, Muhammad Aurangzeb, directed … Read more
Islamabad, Pakistan: Newly inaugurated Prime Minister Shehbaz Sharif wasted no time in addressing Pakistan’s pressing economic concerns. Following his Monday swearing-in ceremony, PM Sharif held a critical meeting focused on national economic rehabilitation to prioritizes immediate talks with IMF. Read Also: Prospects of an $8-10 Billion IMF Loan Program Discussed by Ministry of Finance Key … Read more
Islamabad, Pakistan: PTI Urges IMF For Audit Of February 8 General Elections in Pakistan and formally requested the International Monetary Fund (IMF) to conduct an audit of the General Elections that took place on February 8th. This move underscores the party’s concerns about potential irregularities and their impact on the electoral process. Concerns and Request for … Read more
Islamabad, Pakistan – February 22, 2024: Former Prime Minister and founder of the Pakistan Tehreek-e-Insaf (PTI) party Imran Khan Demands Election Audit for IMF Talks. He is demanding an independent election audit as a precondition for further talks with the International Monetary Fund (IMF). This bold move shines a spotlight on concerns about electoral integrity … Read more
Bloomberg reported on Monday that Pakistan dollar bonds are anticipated to experience declines as the current IMF bailout program concludes in March 2024. An analyst specializing in sovereign debt at a global investment company based in the UK expressed cautious optimism, stating that the caretaker government is taking appropriate measures, but the actual test lies … Read more
