Pakistan is already struggling to find stability in politics and now, the cash-strapped country is seeing a slow pace of inflows as only USD 8.1 billion receipts in 10 months of this fiscal year stood at just 35.5 per cent of the USD 22.8 billion full-year budget target
The effectiveness of the monetary policy has proven strong as the country reduced the inflation by 310 bps from the peak of 7.8 per cent in April 2022 to 4.7 per cent in April 2023, according to a statement from the industry body.
In the three-day deliberations of the Monetary Policy Committee of the Reserve Bank of India in early April, Governor Shaktikanta Das said the central bank has projected India's real GDP growth for 2023-24 at 6.5 per cent
She said central banks must remain resolute in keeping policies tight and recognize that insufficient monetary tightening now may necessitate even more painful actions down the road
The IMF official said the country's economic prospects hinge quite critically on the implementation of the economic reform program it had agreed in particular for five key areas.
On Sunday, Perez Ruiz said that external funding requirements had not changed throughout the discussions, under a review that would unlock USD 1.1 billion in financing for the cash-strapped South Asian nation as part of a USD 6.5 billion IMF package, Dawn reported.
Talking to ANI, Sanjay Kumar Singh said, "NCB & Navy conducted a successful operation in the Indian Ocean. It is the largest in terms of its monetary value. The monetary value is approx Rs 15,000 crore. It originated from the Chabahar port in Iran. The source of the drugs is Pakistan."
Retail inflation in India having moderated sharply in April substantiated the Reserve Bank of India's (RBI) decision to pause the repo rate in its first 2023 monetary policy meeting, according to SBI Research.