IMF ACCORD
Not as $trong, but $till $ignificant Recent reports suggest that Saudi Arabia has shifted away from the US dollar in its oil trade agreements, deviating from the petrodollar system. Though these reports lack concrete evidence, they stir speculation in the global financial system. BRICS...
06 Jul, 2024, 12.17 AM ISTIndia's forex reserves dip by $1.71 bn to $652 bn India's foreign exchange reserves decreased by $1.71 billion to reach $652 billion as of June 28, according to data released by the Reserve Bank of India (RBI). The previous week had seen an increase in reserves by $816 million to $653.7 billion as ...
05 Jul, 2024, 05.08 PM ISTPakistan has met all requirements for IMF bailout deal, finance official says 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.
03 Jul, 2024, 11.54 AM IST
Pakistan's National Assembly passes Rs 18,877 billion budget for fiscal 2024-25 The budget, facing opposition, sets growth targets and tax revenue goals while addressing concerns about IMF loans and tax exemptions to aid economic growth.
28 Jun, 2024, 08.34 PM ISTSri Lanka reaches deal on debt restructuring with bilateral creditors including India, China and France 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...
27 Jun, 2024, 06.39 AM ISTIndia’s forex reserves dip $2.9 bn to come off all-time record high 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...
21 Jun, 2024, 05.12 PM ISTChina will struggle to undo US dominance The US economy is thriving with strong growth and investment, while China's influence is waning. The euro zone is also facing challenges.
20 Jun, 2024, 09.38 AM ISTDespite IMF scrutiny, Pakistan boosts defence spend by 16% 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. ...
13 Jun, 2024, 12.31 AM ISTPakistan hikes defence budget by nearly 15 per cent in 2024-25 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.
12 Jun, 2024, 10.10 PM ISTPakistan missed GDP growth target; achieves 2.38 % against envisaged 3.5 % in FY 2023-24: Economic Survey 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.
11 Jun, 2024, 09.02 PM ISTJapan's economy is shrinking, although slightly less than previously thought 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...
10 Jun, 2024, 10.03 AM ISTPakistan and IMF disagree over new income tax rates that will burden salaried class 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.
09 Jun, 2024, 03.58 PM ISTPakistani Prime Minister Sharif meets China's Xi in Beijing ahead of IMF talks 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...
08 Jun, 2024, 01.10 AM ISTIndia's growth outlook: Economy to get a blockbuster release this Friday? But that's too late to stream in poll campaigns 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...
29 May, 2024, 04.44 PM ISTIndia seen to emerge as an economic superpower in impending problem-ridden global financial landscape 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...
25 May, 2024, 09.46 PM ISTPrivate sector activity picks up to 61.7 in May, according to HSBC Flash PMI 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...
23 May, 2024, 11.23 AM ISTGDP likely expanded 6.8% in Q4; FY24 print may hit 7.8% 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 ...
22 May, 2024, 12.49 AM ISTIMF asks Pakistan to 'impose' tax on monthly pensions, says 'new bailout programme' will require reforms 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...
20 May, 2024, 11.38 AM ISTAmid IMF loan talks, cash-strapped Pakistan mulls 5-yr extension on $15.5 billion Chinese energy debt 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...
17 May, 2024, 05.17 PM ISTEgypt says land sale, IMF accord will ease budget problems Egypt agreed in February to sell the development rights to Ras al-Hikma, a prime Mediterranean resort destination, to Abu Dhabi for $24 billion and expects more than $20 billion from an IMF-led package signed last Wednesday. The package includes $3 ...
11 Mar, 2024, 12.30 AM IST