Ukraine has received the first tranche of USD 2.7 billion from a new International Monetary Fund (IMF) EEF program, CNN reported quoting Ukrainian Finance Minister Sergii Marchenko.
Moreover, with heightening currency risks simultaneously with the rupee sinking, foreign countries are shying away from extending loans to Pakistan, reported The Express Tribune.
The lack of coordinated fiscal and monetary policy responses, coupled with the complete inability of the central bank to keep inflation within the target range has led to a scenario where the country is on the verge of a hyperinflationary cycle.
Pakistan's year-on-year inflation hit 35.37 per cent in March -- the highest in nearly five decades -- as the government scrambled to meet International Monetary Fund (IMF) conditions to unlock a desperately needed bailout.
Such a rollover is critical for Pakistan, whose foreign exchange reserves have fallen to four weeks' worth of imports at a time when it is seeking a $1.1 billion IMF bailout tranche.
In its weekly bulletin, the State Bank of Pakistan (SBP) said that its foreign exchange reserves have decreased as of the week ended March 24, which will provide an import cover of less than a month.
Sri Lankan High Commissioner to India, Milinda Moragoda, met the Reserve Bank of India governor Shaktikanta Das on Wednesday and discussed bilateral economic cooperation.
Hours after Pakistan's Law Minister Azam Nazeer Tarar tabled the Supreme Court (Practice and Procedure) Bill, 2023 aimed to limit the discretionary powers to take suo motu notice by the chief justice of Pakistan, Former Pakistan Prime Minister Imran Khan has urged lawyers to be united for th
Pakistan is in a fix as it has entered into a vicious cycle of borrowing loans to pay off the debts it had taken earlier, thus displaying the scenario that the country's economy will spiral out of control as even friendly countries refused to provide any more easy financial bailout or intere
The issue of Pakistan's participation in the Second Summit for Democracy in the US had been under discussion for some time, particularly because it could potentially upset its "all-weather friend" China.
Talks between the central government and Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan will be possible only if the former prime minister admits his wrongdoing and apologises to the people for all the things he has done, Pakistan Prime Minister Shehbaz Sharif said, Geo News reported.