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For Pakistan, a Global Downturn Adds to Woes

November 20th, 2008 Sana · No Comments

Source: Council on Foreign Relations
Over the past five years, a rolling series of political and security crises have gripped Pakistan, but throughout much of this turmoil a relatively robust macroeconomic outlook provided a source of stability and opportunity. From 2004 to 2007, gross domestic product (GDP) growth ran over 7 percent annually, and bullish investors–Pakistani […]

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Filed Under: Business

IMF Loan to Pakistan May Spur Help From Other Donors

November 16th, 2008 Sana · No Comments

Source: Wall Street Journal
NEW DELHI — Pakistan’s new agreement with the International Monetary Fund over a $7.6 billion loan may lead to more help from other donors and is expected, at least for now, to stave off economic collapse in the South Asian nation.
But the IMF’s package falls well short of the $10 billion to […]

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Filed Under: Business

Pakistan Formally Asks IMF for $9 Billion Loan, Dawn Reports

November 11th, 2008 Sana · No Comments

Source: Bloomberg
By Michael Dwyer
Nov. 11 (Bloomberg) — Pakistan has formally asked the International Monetary Fund for a $9 billion loan, Dawn News channel reported, citing unidentified finance ministry officials.
The South Asian nation has requested the immediate release of $4 billion and an agreement with the IMF is likely to be signed on Nov. 20, Dawn […]

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Filed Under: Business

IMF might approve rescue package for Pakistan by Nov 15

November 1st, 2008 Sana · No Comments

Source: Press Trust of India
Islamabad, Oct 31 (PTI) The IMF might approve a rescue package for financially crunched Pakistan by November 15, two days before a meeting of the ‘Friends of Pakistan’ group to help the country overcome the economic crisis.
International Monetary Fund and Pakistani officials yesterday concluded negotiations in Dubai on a proposed macro-economic […]

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Filed Under: Business · Politics

EDITORIAL: Friends rally around Pakistan

September 28th, 2008 Sana · No Comments

Source: Daily Times
A permanent forum known as Friends of Pakistan was launched in New York on Friday with the mission to help Pakistan out of its economic crisis. It has been estimated that Pakistan would need around $15 billion to prevent its economy from collapsing. The Forum’s first substantive session, hopefully meaning actual execution of […]

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Filed Under: Politics