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Pakistani rupee: a wayward currency

Hard currencies like the US dollar, Euro, pound, are independent free floats, and their value contingent on demand and supply which may fluctuate daily. However monetary authorities, be it a…

Anatomy of ‘Debt Management Strategy’

Pakistan’s persistent fiscal imbalance has cast a negative shadow on the overall economic scenario. Unless significant and enduring fiscal reforms are initiated and implemented with full vigour, the likelihood of…

Dip in the rate of inflation

There is finally some good news on the rate of inflation. The month of June has witnessed a big dip in the rate of inflation in the CPI of 8.6…

Gross financing, and medium-term economic strategy

International Monetary Fund (IMF) Country Report No. 22/288, released in September 2022 – the last such report released, since there have been no successful programme reviews completed since then, given…

Budget strategy for FY2023-24

The budget for 2023-24 will be presented by the federal government in the Parliament in the next few days. There has been a lot of speculation about the budget strategy…

Interest rates: no more room for tightening

Interest rates in Pakistan are almost at historic highs and still the country is running negative real rates on both current and forward-looking inflation. Some believe that the interest rates…

Policy rate and inflation

In the 1970s, economists believed that inflation was primarily caused by ‘monetarism’, which is too much money chasing too few goods. They contended that the only way to control inflation…

The challenge of rising interest rates

While inflation has become a major topic for debate in today’s world politics, it is actually a tale as old as time. The world’s first recorded hyperinflation came during the…