IMF’s SBF
The IMF Stand-By Facility (SBF) of $3 billion has been in operation for two weeks now. Already, there is a big increase in external inflows. Foreign exchange reserves now stand…
Call a spade a spade
The refrain from the Prime Minister’s office prior to 23 June 2023 that all International Monetary Fund (IMF) conditions pertaining to the stalled ninth Extended Fund Facility (EFF) review have…
Rising public debt
The extremely worrying indicator today is the large and rapidly growing level of public debt, including the external liabilities, in Pakistan. As of the end of December 2022 it stands…
2023: Disappointments & hopes
Year 2022 is bidding farewell to Pakistan leaving behind some unpleasant memories, natural disaster in the form of floods as well as self-inflicted political instability and economic uncertainty. The negative…
The forthcoming IMF review
The 9th review of the IMF (International Monetary Fund) Programme is due shortly. It will represent an appraisal by the IMF of the economic outcome in the first quarter of…
The optimism of SBP
The recent statement by the Monetary Policy Committee of the SBP (State Bank of Pakistan) has certainly provided comfort to a reader. Amidst all the bad news of fall in…
Foreign inflows at a low ebb
International perceptions of the declining credit worthiness of Pakistan have been augmented by the downgrading of the country’s credit rating by S&P, Fitch, and Moody’s from ‘stable’ to ‘negative’. Recently,…
Old wine in old bottles
Reports indicate that Ishaq Dar’s selling point in being reappointed as the country’s finance minister for the fourth time was his claim that he could not only check the rupee…
Major negative developments
The downgrading of Pakistan’s credit rating by Moody’s from B3 to Caa1 comes as a big shock. The credit rating agency has cited increased government liquidity and external vulnerability leading…
What’s next?
PaThe IMF Executive Board’s meeting was held on August 29 for Pakistan’s “combined 7th and 8th reviews; request for waivers of nonobservance of performance criteria and for extension, augmentation and…
