Fitch upgrades Pakistan’s rating to ‘CCC+’ from ‘CCC’
Country’s large funding needs leave it vulnerable if it fails to implement challenging reforms, warns rating agencyÂ
Pakistan seeks Chinese institutional investors’ cooperation for Panda Bonds
Finance Minister Aurangzeb briefs top Chinese officials on government’s reform agenda and engagement with IMF
Pakistan’s economy remains fragile amid external shocks, reports BMI
Political instability could derail economic recovery, with the potential for protests and disruptions to economic activity, forecasts Fitch Solutions companyÂ
Pakistan, IMF reach staff-level agreement on $7 billion Extended Fund ArrangementÂ
Agreement is subject to approval by the IMF’s board and the timely confirmation of necessary financing assurances from Pakistan’s development and bilateral partners
Govt raises Rs908 billion through T-Bills, PIBs sale
Borrowing aims to bridge financing gaps and meet high-interest payment obligations
Pakistan attracts $1.73 billion in FDI during 11MFY24
FDI recorded $270.9 million in May 2024, up from $155.7 million in the same month last year
Govt plans to borrow over $23 billion for FY2024-25Â
Borrowing included a $12 billion rollover of bilateral debt from China, KSA and UAE
Government to target lesser inflation and narrower fiscal deficit in FY25
Economy rebounded with 2.4% growth in 2023-24; growth target for FY25 set at 3.6%
Federal govt’s borrowing from banks surges by 116% due to slow foreign inflows
Significant increase in borrowing is also due to less-than-target revenue collection
Import bill surges to $17.9bn in H2FY24, reflecting eased restrictions
Following IMF directives, Pakistan's SBP eases import restrictions, causing a noticeable rise in import bills
Pakistan sees $11m inflow from foreign investors into T-Bills in May
Attractive returns on T-Bills fuel foreign investor interest in Pakistan, with rates up to 21.6%
Headline inflation to drop to 14% YoY in May: report
Annual inflation rate may vary between 7.4% to 14.8% by December 2024
GDP grows modestly at 2.09% in Q3FY24
NAC revises Q1 and Q2 GDP growth estimates upwards to 2.71% and 1.79%, reflecting an uptick in economic activity
RDA sees over 6% drop in April inflows, SBP reports
Inflows dip to $171m in April
PSX dips 258 points amid IMF visit, speculations of economic tightening
Investor worries mount over anticipated tax hikes and monetary tightening ahead of the new IMF program