The rating agency’s decision is driven by Pakistan’s heightened external vulnerability risk and uncertainty around its ability to secure adequate additional external financing.
The bankrupt nation will slash its budget expenditure to 'bare bones' and hopes to break even or post a primary surplus of 1% of GDP by 2025, Prime Minister Ranil Wickremesinghe said.
The deficit increased to 8.9% of GDP in the year ended June compared with 6.6% a year ago, just ahead of IMF’s first quarterly review of its bailout deal.
An IMF report said without bold reforms, Pakistan’s economy will remain critical given its largely unaddressed weak tax administration and tough business environment.
Pakistan finance minister Asad Umar resigns after being offered energy portfolio as part of cabinet reshuffle. Negotiations with IMF and FATF now at risk.
Here’s what’s happening across the border: Foreign journalist says Imran gave her an interview but aide says no, and actress to launch ‘Inkar karo’ movement in line with #MeToo.
Here’s what’s happening across the border: PPP co-chairman Zardari is ready to talk to Nawaz Sharif, and newspapers editors object to new media legislation.
Here’s what’s happening across the border: Moody’s underscores importance of IMF bailout for Pakistan’s economy; Pak won’t succumb to US’ policy on Afghanistan, says Qureshi.
Here’s what’s happening across the border: Pakistan navy commissions indigenously-built warship PNS Moawin, and woman car mechanic breaking gender stereotypes.
India’s aviation space is grappling with more than just a pilot deficit problem as industry experts highlight the need for the government and the aviation regulator to step in.
New infra projects involve not just repair work of runways and creation of additional taxi ways to enable better tempo of operations, but also storage of spare parts and munitions.
As the BJP heads for a likely third successive term in power, it's fascinating to debate how true it looks to the original proposition: a party with a difference.
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