IMF ACCORD

The South Asian country has set challenging revenue targets in its annual budget to help it win approval from the IMF for a loan to stave off another economic meltdown, even as domestic anger rises at new taxation measures.

The budget, facing opposition, sets growth targets and tax revenue goals while addressing concerns about IMF loans and tax exemptions to aid economic growth.

Sri Lankan President Ranil Wickremesinghe announced a debt restructuring deal with India, France, Japan, and China, a critical step in economic recovery after the 2022 debt default. Under an IMF bailout program, the agreement is expected to revive s...

India's foreign exchange reserves saw a notable decrease of $2.92 billion to reach $652.9 billion as of June 14, according to data from the Reserve Bank of India. This followed a significant increase of $24.3 billion in the previous week, pushing re...

The US economy is thriving with strong growth and investment, while China's influence is waning. The euro zone is also facing challenges.

Pakistan has increased its defence budget by 16.4%, despite seeking a bailout deal from the IMF to prevent economic collapse. The latest allocation of $7.37 billion for fiscal year 2024-25 is a 16.4% increase from the previous year's $6.33 billion. ...

Pakistan announced a 15% increase in defence spending, reaching Rs 2,122 billion in the 2024-25 budget. Finance Minister Aurangzeb presented the budget in the National Assembly, the first under the PML-N and PPP coalition government.

The growth remained below the estimated target of 3.5 per cent for the outgoing year and the government failed to achieve it, mainly due to underperformance of industries and services sectors.

Japan GDP growth: Revised government data shows Japan's economy shrank at an annual rate of 1.8%, an improvement from the initial estimate of 2.0%. Private sector investments were revised to minus 0.4%. Weak consumer spending, a depreciating yen, an...

Pakistan's talks with the IMF ended inconclusively over disagreements on new income tax rates for salaried and non-salaried individuals and the income tax threshold, as reported by the media.

China's President Xi Jinping met Pakistani Prime Minister Shehbaz Sharif in Beijing, affirming China's support for Pakistan's sovereignty and economic development. The meeting occurred ahead of Pakistan's annual budget and anticipated IMF loan appli...

India's forex reserves fell by $2 billion to $646.67 billion as of May 24, according to the Reserve Bank of India (RBI). This decline follows a previous increase of $4.54 billion, reaching an all-time high of $648.7 billion on May 17. The reduction ...

GDP Q4: As the country buzzes with election excitement, India is set to release its GDP growth numbers for the fourth quarter of FY24 this Friday, alongside the full fiscal year figures. Analysts are eagerly awaiting to see if the January to March q...

Global recession risks have diminished, but inflation concerns threaten financial stability. The IMF, World Bank, and rating agencies forecast a slowdown in global growth, citing Middle East conflicts, financial stress, persistent inflation, and red...

The HSBC Flash India Composite Output Index rose to 61.7 in May compared with 61.5 in the previous month. “The latest data showed strength in new export orders for both sectors, which rose at the fastest pace since the series started in September 20...

The strong March quarter print could lift overall gross domestic product (GDP) growth for the full fiscal year to 7.8% against 7.6% assessed in the government's first advance estimates released in February. The International Monetary Fund (IMF) has ...

The International Monetary Fund (IMF) has requested Pakistan to impose a tax on monthly pensions exceeding Rs 100,000 as part of a new bailout program. The IMF's demand is expected to gain legislative support to tax wealthy pensioners. Pakistan rema...

Cash-strapped Pakistan is considering to seek a five-year extension on its $15.5 billion debt in the Chinese energy sector as talks with the IMF for a fresh loan continue. The consent of the Chinese government and Independent Power Producers is cruc...

Asserting that the government's job is not to do business but to ensure a business and investment-friendly environment, Sharif directed all ministries to take action and cooperate with the Privatisation Commission.