Pakistan’s new government has been in a mad dash to attract foreign aid and investment—most notably from Saudi Arabia—to offset a widening current account deficit, rising foreign debt repayment obligations, and avert a balance of payments crisis. Pakistan’s external financing needs will approach or exceed $30 billion this fiscal year. Read Here – The National […]
Are America and Pakistan finally breaking up? The short answer is no. As much as both states are fed up with each other, they remain far too co-dependent to simply walk away. What we are seeing instead is a tough and protracted re-negotiation over the terms of the relationship. The question of Pakistan’s role in Afghanistan is not necessarily […]
In what has become somewhat of a ritual, Pakistan is back at the doorsteps of international creditors. The PML-N government has left national coffers empty, just like the PPP and the Musharraf-led PML-Q governments before it. Like clockwork, Pakistan goes to the IMF after every election: 2008, 2013 and now 2018. This time the request […]
Some in Pakistan have speculated that China may oppose an IMF program out of concerns that it would compel China to release the financing terms of many CPEC projects. But outside of situations where external debt restructuring is required, it would be exceedingly unusual for the IMF to make such a demand. Instead, the IMF […]
Governing Pakistan is an unenviable task in the best of times, not least when the country is faced with an economic meltdown and a diplomatic squeeze. The solution to both is intrinsically linked — with the US holding one of the keys to relieving the pain. Incoming prime minister Imran Khan isn’t going to have […]
The institutions that oversee the global economy – the IMF, the World Band, and the World Trading Organization – have all derived their authority from the support of the world’s economic hegemon, the United States. With the US under Donald Trump rapidly dumping its leadership role, how will the resulting vacuum be filled? Read Here […]
Whether Bitcoin’s value goes up or Bitcoin’s value goes down, people around the world are asking the same question: What exactly is the potential of crypto-assets? The technology behind these assets—including blockchain—is an exciting advancement that could help revolutionize fields beyond finance. It could, for example, power financial inclusion by providing new, low-cost payment methods […]
The world economy is enjoying a synchronised recovery. But it will prove unsustainable if investment does not pick up, especially in high-income economies. Debt mountains also threaten the recovery’s sustainability, as the OECD, the Paris-based group of mostly rich nations, argues in its latest Economic Outlook. This report is the swansong of Catherine Mann, who […]
Pakistan has seen its growth accelerate, stocks soar, currency stabilize and foreign-exchange reserves triple to a record in recent years. Now, the economy faces the test of going without the safety net of an International Monetary Fund program. Read Here – Bloomberg
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