Indian stock indices traded higher on Friday morning, getting support from the US central bank's latest monetary policy stance - which finally paused the interest rate after raising it for over a year.
Pakistan Finance Minister Ishaq Dar on Thursday said that Pakistan and International Monetary Fund (IMF) are underway and the talks have not failed nor the negotiation phase has concluded, reported ARY News.
Barring the latest pause, the US central bank has hiked the interest rate for the tenth consecutive time which was necessitated in the fight against soaring inflation.
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The country remains mired in political and economic crises, amid punishing inflation that neared 38 per cent in May. On Monday, the central bank left its benchmark rate unchanged at a record-high 21 per cent, saying it thinks inflation has "peaked."
A general election is scheduled for November, which the government hopes will resolve the uncertainty caused by the protest movement led by the chairman of the Pakistan Tehreek-e-Insaf (PTI) since his ouster in a no-confidence vote last year.
India is also making great efforts to accelerate infrastructure development. From airways to railways and roadways, a swift expansion and upgradation are set to enhance the macroeconomic dividends of the country.
"The RBI decision to pause was largely on expected lines. The communication was nuanced and tailored to anchor market expectations for the future in terms of a durable glide path of inflation. The bouquet of policy changes on the development front covers a wide spectrum and prioritizes re