Tag: creditors
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Everything is going alright with IMF, says Ishaq Dar
Finance Minister Ishaq Dar said on Thursday that it is expected that the matters between the government and the International Monetary Fund (IMF) regarding the conclusion of the 9th review of the $7 billion loan program will be settled today. “Everything is going alright,” replied the finance minister when asked about the status of the…
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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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Approaching Paris Club for funds would be my last resort: Ishaq Dar
The Federal Minister of Finance and Revenue, Ishaq Dar, said on Friday that approaching the bilateral Paris Club creditors for debt relief would be his final option since rating agencies lower the ratings of countries who approach the Paris Club. The country was not looking for or in need of any rescue from commercial banks…
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‘Nothing to worry about’: Dar dismisses concerns raised by Moody’s downgrading Pakistan
After Moody’s Investors Service downgraded Pakistan’s sovereign credit rating on Friday, Finance Minister Ishaq Dar dismissed worries, stating there is ‘nothing to worry about’. “There is nothing to be worried about, I spoke with Moody’s yesterday and told them that they shouldn’t have done this. They should have consulted with us,” said Dar while talking…