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IMF's Debt Dilemma Looms After Pak Election: Central Bank's Ex Governor
The International Monetary Fund faces tough choices on how to deal with Pakistan after the February election and how to assess the country's debt situation, a former central bank governor of the South Asian nation said.
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Pakistan Banks Turn to Blockchain Technology to Update Customers' KYC Details Amid Economic Turmoil
Banks in Pakistan have decided to develop a know-your-customer (KYC) platform using blockchain technology in order to strengthen the country’s efforts to curb money-laundering. With a blockchain-based KYC platform, financial institutions will be able to minimise onboarding costs for bank users.
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Pakistan Central Bank Hikes Interest Rate To Record High Level Amid Inflation
The State Bank of Pakistan has increased the interest rate by a massive 300 basis points (bps) taking it to a record-high level of 20 per cent, in accordance with the conditions set by the International Monetary Fund.
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Pakistan To Get $700 Million Loan From China: Finance Minister
Pakistan's all-weather ally China has approved a loan of USD 700 million and the funds will be transferred to the central bank this week, Finance Minister Ishaq Dar announced today as the cash-strapped country tried to avert a financial crisis.
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Pakistan's Current Account Deficit Falls 90% To $0.2 Billion In January
Pakistan's current account deficit (CAD) dropped to $0.2 billion in January 2023, down 90% from last year as the rupee's depreciation slowed down imports, the central bank said on Monday.
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Cash-Strapped Pakistan To Repay $1 Billion Next Week, 3 Days Before Deadline
Pakistan's central bank chief said on Friday that the cash-strapped country would repay a USD 1 billion international bond on December 2, three days before its due date.
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"Looks Like UFO": Video Of Pakistan Groom With Currency Garland Shocks Internet
Years ago, India's central bank had said that bank notes should be respected as they are a symbol of the sovereign and people should not misuse them.
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Cash-Strapped Pakistan Gets $2.3 Billion From China
Pakistani Finance Minister Miftah Ismail said on Friday that a loan of USD 2.3 billion from a Chinese consortium of banks had been credited to the central bank's account.
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Crypto Sector Could Suffer in Pakistan as Its Central Bank Looks to Ban Cryptocurrencies: Report
Pakistan, that houses the third largest number of crypto users in the world, is deciding if it should ban the crypto sector all-together. The country’s central bank has told the Sindh High Court that cryptocurrencies are illegal and unusable as trade assets.
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Pakistan Central Bank Lifts Rates By 100 Basis Points To 9.75% To Counter Inflation: Report
The bank signalled that it was likely done with hiking rates in the near-term, having lifted the policy rate by 150 basis points at its last meeting in November.
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UAE Firm Files 74 Billion Lawsuit Against Pakistan's Central Bank: Report
An United Arab Emirates-based trading and investment firm has filed a lawsuit worth around Rs 74 billion against the State Bank of Pakistan (SBP) and a private bank, local media reported.
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Pak Central Bank Reserves Fall By $123 Million To $20 Billion: Report
Foreign exchange reserves held by Pakistan's Central Bank fell 0.61 per cent on a weekly basis, according to State Bank of Pakistan's data on Thursday.
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Pakistan Gets $2.75 Billion In COVID-19 Support Funds From IMF
Pakistan on Tuesday received $2.75 billion from the International Monetary Fund (IMF) under a Special Drawing Rights (SDR) programme to support low-income countries hit by the coronavirus, its central bank said.
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India, Pakistan Among Top 5 Economies With Highest Real Interest Rates
While negative real rates might be considered a sign of financial instability, a high inflation-adjusted benchmark interest rate is, on balance, a reason for central bankers to consider a looser policy stance.
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Pakistan To Get $3 Billion Loan From UAE, Hopes For Deferred Oil Payments
The United Arab Emirates plans to deposit $3 billion in Pakistan's central bank "in the next few days", the UAE state news agency WAM reported.
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IMF's Debt Dilemma Looms After Pak Election: Central Bank's Ex Governor
The International Monetary Fund faces tough choices on how to deal with Pakistan after the February election and how to assess the country's debt situation, a former central bank governor of the South Asian nation said.
-
Pakistan Banks Turn to Blockchain Technology to Update Customers' KYC Details Amid Economic Turmoil
Banks in Pakistan have decided to develop a know-your-customer (KYC) platform using blockchain technology in order to strengthen the country’s efforts to curb money-laundering. With a blockchain-based KYC platform, financial institutions will be able to minimise onboarding costs for bank users.
-
Pakistan Central Bank Hikes Interest Rate To Record High Level Amid Inflation
The State Bank of Pakistan has increased the interest rate by a massive 300 basis points (bps) taking it to a record-high level of 20 per cent, in accordance with the conditions set by the International Monetary Fund.
-
Pakistan To Get $700 Million Loan From China: Finance Minister
Pakistan's all-weather ally China has approved a loan of USD 700 million and the funds will be transferred to the central bank this week, Finance Minister Ishaq Dar announced today as the cash-strapped country tried to avert a financial crisis.
-
Pakistan's Current Account Deficit Falls 90% To $0.2 Billion In January
Pakistan's current account deficit (CAD) dropped to $0.2 billion in January 2023, down 90% from last year as the rupee's depreciation slowed down imports, the central bank said on Monday.
-
Cash-Strapped Pakistan To Repay $1 Billion Next Week, 3 Days Before Deadline
Pakistan's central bank chief said on Friday that the cash-strapped country would repay a USD 1 billion international bond on December 2, three days before its due date.
-
"Looks Like UFO": Video Of Pakistan Groom With Currency Garland Shocks Internet
Years ago, India's central bank had said that bank notes should be respected as they are a symbol of the sovereign and people should not misuse them.
-
Cash-Strapped Pakistan Gets $2.3 Billion From China
Pakistani Finance Minister Miftah Ismail said on Friday that a loan of USD 2.3 billion from a Chinese consortium of banks had been credited to the central bank's account.
-
Crypto Sector Could Suffer in Pakistan as Its Central Bank Looks to Ban Cryptocurrencies: Report
Pakistan, that houses the third largest number of crypto users in the world, is deciding if it should ban the crypto sector all-together. The country’s central bank has told the Sindh High Court that cryptocurrencies are illegal and unusable as trade assets.
-
Pakistan Central Bank Lifts Rates By 100 Basis Points To 9.75% To Counter Inflation: Report
The bank signalled that it was likely done with hiking rates in the near-term, having lifted the policy rate by 150 basis points at its last meeting in November.
-
UAE Firm Files 74 Billion Lawsuit Against Pakistan's Central Bank: Report
An United Arab Emirates-based trading and investment firm has filed a lawsuit worth around Rs 74 billion against the State Bank of Pakistan (SBP) and a private bank, local media reported.
-
Pak Central Bank Reserves Fall By $123 Million To $20 Billion: Report
Foreign exchange reserves held by Pakistan's Central Bank fell 0.61 per cent on a weekly basis, according to State Bank of Pakistan's data on Thursday.
-
Pakistan Gets $2.75 Billion In COVID-19 Support Funds From IMF
Pakistan on Tuesday received $2.75 billion from the International Monetary Fund (IMF) under a Special Drawing Rights (SDR) programme to support low-income countries hit by the coronavirus, its central bank said.
-
India, Pakistan Among Top 5 Economies With Highest Real Interest Rates
While negative real rates might be considered a sign of financial instability, a high inflation-adjusted benchmark interest rate is, on balance, a reason for central bankers to consider a looser policy stance.
-
Pakistan To Get $3 Billion Loan From UAE, Hopes For Deferred Oil Payments
The United Arab Emirates plans to deposit $3 billion in Pakistan's central bank "in the next few days", the UAE state news agency WAM reported.
