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Pakistan facing bankruptcy

October 7th, 2008 Sana · No Comments

Source: Telegraph
Pakistan’s foreign exchange reserves are so low that the country can only afford one month of imports and faces possible bankruptcy.
Officially, the central bank holds $8.14 billion (£4.65 billion) of foreign currency, but if forward liabilities are included, the real reserves may be only $3 billion - enough to buy about 30 days […]

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Filed Under: Business · Politics

Pakistan’s forex reserves dip to $13.275 bln

April 4th, 2008 Sana · No Comments

Source: Reuters
KARACHI, April 4 (Reuters) - Pakistan’s foreign reserves fell by $224 million to $13.275 billion in the week that ended on March 29, the central bank said on Friday.
Reserves held by the State Bank of Pakistan fell to $11.100 billion from $11.356 billion a week earlier, while those held by commercial banks rose to […]

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Filed Under: Business

Pakistan national bank cuts economic growth forecast to 6-6.5 percent

March 31st, 2008 Sana · No Comments

Source: International Herald Tribune
KARACHI, Pakistan: Pakistan’s national bank has cut its forecast for the country’s economic growth this fiscal year to 6.0-6.5 percent.
The State Bank of Pakistan said Monday it was revising its forecast for the year ending June 30 in the light of “domestic turbulence and external shocks.”
The bank predicted growth of 7.2 percent […]

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Filed Under: Business

Pakistan Inflation Accelerates on Record Wheat Prices (Update1)

January 14th, 2008 Sana · 3 Comments

Source: Bloomberg
By Farhan Sharif
Jan. 14 (Bloomberg) — Pakistan’s inflation accelerated in December as local wheat prices rose to a record, pushed up by smuggling of the grain to neighboring Afghanistan.
Consumer prices jumped 8.8 percent from a year earlier, after gaining 8.7 percent in November, the statistics bureau said today in Islamabad. Economists expected a 9 […]

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Filed Under: Business

Pakistan’s Inflation Probably Held Near 29-Month High on Food

December 12th, 2007 Sana · No Comments

Source: [Emergency] Mailing List
Farhan Sharif
Dec. 10 (Bloomberg) — Pakistan’s inflation probably held in November near
the highest level since 2005 on soaring food costs, increasing the
possibility of an interest-rate increase by the central bank next month.
Consumer prices jumped 9.05 percent from a year earlier, after gaining
9.3percent in October, according to the median forecast of eight
analysts […]

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Filed Under: Emergency 2007 · Politics