Tag: Asian Development Bank
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Pakistan’s total liquid foreign reserves increases to $14.68 billion
The Asian Development Bank (ADB) contributed to an increase of $1.517 billion in Pakistan’s foreign exchange reserves during the week ending October 28 to bring them to $14.679 billion, the central bank reported on Thursday. The State Bank of Pakistan’s foreign exchange holdings increased by $1.473 billion to $8.912 billion. “This increase is attributed to…
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ADB transfers $1.5 billion loan to Pakistan
Finance Minister Ishaq Dar said that the Asian Development Bank (ADB) had transferred a $1.5 billion loan to Pakistan on Wednesday. The loan would increase foreign exchange reserves and stop the devaluation of the rupee. The support from ADB will help increase the number of families receiving cash transfers from 7.9 million to 9 million,…
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Pakistan’s default risk hits a 13-year-high, reflecting foreign investors’ lack of faith
The risk of default for Pakistan, as determined by the 5-year credit default swap (CDS), increased on Tuesday by 3.07 percentage points in a single day to reach a 13-year high of 52.8 per cent, indicating that foreign investors no longer have confidence in the nation. Before the Covid-19 outbreak in Pakistan in February 2020,…
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ADB set to approve $1.5 billion loan for Pakistan today
A $1.5 billion programme loan for Pakistan is slated to be approved by the Asian Development Bank (ADB) on Friday (today) as part of the BRACE (Building Resilience with Active Countercyclical Expenditure) programme. According to Geo, the Board of the ADB will meet in Manila to discuss whether to approve a $1.5 billion programme loan…
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ADB to provide up to $2.5 billion under flood relief support to Pakistan
The Asian Development Bank (ADB) announced on Wednesday that it would provide support of $2.3–2.5 billion for relief efforts in the wake of disastrous floods that have left Pakistan severely damaged. The declaration was made during a meeting between Pakistan’s ADB Country Director Yong Ye and Finance Minister Ishaq Dar, as per a press release…
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Pakistan may receive $2.5 billion loan from Asian Development Bank
The Asian Development Bank (ADB) has hinted at providing $2.5 billion in additional loans to Pakistan. However, the government must obtain a good economic health certificate from the International Monetary Fund (IMF) in order to receive the loan. Following a meeting between Minister of State for Finance and Revenue Dr Aisha Ghous Pasha and ADB…
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Asian Development Bank to develop irrigation system in Pakistan
Asian Development Bank (ADB) approves to develop an irrigation system in Pakistan. This irrigation system will boost agronomy and food security in Punjab province. “Given Pakistan’s vulnerability to the impacts of climate change, it is essential to build irrigation infrastructure for climate-resilient and sustainable agriculture,” said ADB Director General for Central and West Asia Yevgeniy…
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Fifth-lowest growth rate in South Asia as inflation continues to rise in Pakistan: Asian Development Bank
The Asian Development Bank (ADB) on Wednesday projected that inflation in Pakistan would remain the highest in the region at 7.5 per cent, and the economy would grow by 4 per cent – the fifth-lowest growth rate among seven South Asian nations, contradicting the government’s claim of lowest prices in the country, reported Shahbaz Rana for The…
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‘Pakistan has the potential to become an economic hub,’ says Asian Development Bank
The Asian Development Bank (ADB) has said that Pakistan has huge potential for economic progress given its strategic location and youthful growing population. In an interview, Country Director of ADB for Pakistan Xiaohong Yang said: “Pakistan has the potential to become a regional hub for trade and economic activity but the major impediment is weak…
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KYA BOLA? (Aug 6): ‘Martial law se behtar Angrezo ki hukoomat hai’ to ‘substandard’ construction work of Peshawar BRT
Following are some snippets that stood out from Urdu newspapers on August 6, 2020, which The Current takes no responsibility for. ‘Martial Law Se Behtar Angrezo Ki Hukoomat Hai’ It has been reported by Daily Dunya that Supreme Court’s Justice Qazi Faez Isa, who is known for being a critic of certain quarters, has taken…