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Islamabad, July 26, 2024 – The Sensitive Price Indicator (SPI) inflation on a Year on Year (YoY) basis has surged by 20.09% for the week ending July 25, 2024, according to the latest data released by the Pakistan Bureau of Statistics (PBS) on Friday.
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Karachi, July 25, 2024 – The State Bank of Pakistan (SBP) announced on Thursday a significant drop of $397 million in its official foreign exchange reserves for the week ending July 19, 2024. The reserves declined from $9.424 billion on July 12, 2024, to $9.027 billion by the end of the week.
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Karachi, July 25, 2024 – Business owners across Pakistan have expressed heightened pessimism about their future prospects, citing continued political turmoil and a new tax-heavy budget as major concerns, according to a recent Gallup Pakistan survey.
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Karachi, July 20, 2024 – Pakistan has experienced a remarkable 153 percent increase in total foreign investment during the fiscal year 2023-24. According to the State Bank of Pakistan (SBP), the total foreign investment soared to $1.52 billion, up from $601 million in the preceding fiscal year.
(more…)Karachi, July 18, 2024 – The State Bank of Pakistan (SBP) announced on Thursday that the country’s weekly foreign exchange reserves have increased by $59 million. For the week ended July 12, 2024, the forex reserves rose to $14.704 billion, up from $14.645 billion a week earlier on July 5, 2024.
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Karachi, July 17, 2024 – Pakistan’s bank borrowing surged to an unprecedented Rs 8.56 trillion in the fiscal year 2023-24, marking a 130 percent increase over the previous fiscal year, according to official data.
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Islamabad, July 17, 2024 – Fitch Ratings has raised alarm over the fragile economic state of Pakistan, citing significant risks stemming from both internal and external factors.
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Islamabad, July 16, 2024 – Pakistan’s economic outlook has received a cautious boost with the recent staff-level agreement reached with the International Monetary Fund (IMF) for a new $7 billion Extended Fund Facility (EFF). While this agreement offers a crucial source of financing, Moody’s Ratings Agency warns that Pakistan’s ability to sustain reforms will be the ultimate determinant of its success.
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Islamabad, July 13, 2024 – Prime Minister Muhammad Shehbaz Sharif expressed deep satisfaction on Saturday following Pakistan’s successful negotiation of a staff-level agreement with the International Monetary Fund (IMF) for a new $7 billion loan program. The agreement, spanning over 37 months, is poised to bolster Pakistan’s economy amidst ongoing financial challenges.
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Islamabad, July 13, 2024 – The International Monetary Fund (IMF) and Pakistan have announced a staff-level agreement for a $7 billion Extended Fund Facility (EFF). However, the disbursement of these funds awaits approval from the IMF’s executive board.
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