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As its rentier economy collapses, Pakistan’s immediate future looks grim

January 28, 2023 4:23 pm

With the US withdrawal from Afghanistan and change in the geopolitical environment, Pakistan’s opportunities for rent seeking have been diminishing. Its growing closeness to China isn’t helping either

Remittances sent home by overseas Pakistanis fall to 31-month low of USD 2 billion in December 2022

January 15, 2023 7:05 am

According to the Dawn newspaper, the State Bank of Pakistan (SBP) reported on Friday that the remittances had decreased by 19 per cent to Rs 2.04 billion in December compared to USD 2.52 billion in the same month of the previous year.

World Bank forecast Pakistan's economic growth to further 'slow' to 2% in FY 2022-23

January 11, 2023 4:53 pm

It forecasted Pakistan's GDP growth rate to improve to 3.2 per cent in 2024, but that too would be lower than the earlier estimate of 4.2 per cent

Pakistan requests China to rollover $6.3 billion debt

October 23, 2022 9:22 pm

For the current fiscal year, the International Monetary Fund and the Ministry of Finance have estimated Pakistan's gross external financing requirements in the range of $32 billion to $34 billion, excluding the impact of the recent devastating floods.

PM Sharif says 'even friendly countries started looking at Pakistan as beggars'

September 15, 2022 9:34 pm

“Today, when we go to any friendly country or make a phone call, they think that we have come [to them] to beg for money,” Dawn news quoted the prime minister as saying in an address to a lawyers' convention on Wednesday.

Explained: How China, UAE are helping Pakistan tide over its economic crisis

June 30, 2022 4:06 pm

As Pakistan’s economic condition has worsened over the last few years with foreign exchange reserves dipping, it has turned to various kinds of loan deals.

IMF deal with Pakistan would revive $6 billion bailout

November 22, 2021 5:39 pm

In April 2020, the IMF released $1.4 billion to Pakistan, helping it handle an economic crisis amid a surge in fatalities from the coronavirus.

Pakistan International Airlines operates 46 flights without passengers: Audit report

September 21, 2019 7:23 pm

The figures were revealed in an audit report which stated that the airline suffered huge financial losses by operating 46 empty flights from Islamabad, the Geo TV reported.

Explained: What ails Pakistan's economy? Is it drowning in debt?

August 30, 2019 3:49 pm

Pakistan’s recent bluster is in stark contrast to the precarious state of its economy — a GDP less than a tenth India’s, and buried under a mountain of international debt. This is what macroeconomic indicators show

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With economy on the brink, Pakistan grapples to secure lifelines

June 18, 2019 12:51 am

The desperation for lifelines such as the ADB loan underscores Pakistan’s increasing reliance on lenders as the country tries to overcome a ballooning Balance-of-Payments crisis that threatens to cripple its economy.