Tag: Default
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Nearing default and lying about phone calls? Not good Pakistan, says IMF
The International Monetary Fund (IMF) stated on Sunday that Managing Director Kristalina Georgieva and Prime Minister Shehbaz Sharif spoke on the latter’s request, a claim that suggests Islamabad has continued to engage in politics while being on the verge of default. “The call took place in response to a request by the Prime Minister of…
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Plans of long-term caretaker govt in pipeline, claims journalist
News anchor Meher Bokhari in her programme ‘Program Hum Meher Bokhari Kay Sath’ on Hum News has claimed that a crucial meeting has taken place where plans of installing a long caretaker government in Pakistan have been discussed. She said that considering the worsening economic conditions in the country, the caretaker government can be in…
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‘Not a Banana republic’: Ahsan Iqbal hits out at people saying that Pakistan is going to default
Federal Minister for Planning Ahsan Iqbal has hit out at speculation that Pakistan is going to default. Talking to Geo News’ programme ‘Aaj Shahzeb Khanzada kay Sath‘, he said, “Pakistan is not Africa’s banana republic. We have a large economy. Voices saying that the country is heading towards default shouldn’t come from inside of Pakistan.”…
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‘Imran Khan nay Pakistan ki izzat ko khaak mein mila diya’:PM Shehbaz
Prime Minister Shehbaz Sharif on Monday said that Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan destroyed the respect that Pakistan had. Talking about the economic situation of Pakistan, PM Shehbaz said that when he took over as the premier of Pakistan, the country was on the brink of default. He said that the ruling coalition saved…
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Aanay waalay dinon mein koyi barra toofaan barpa ho sakta hai: Hamid Mir
Senior journalist Hamid Mir has warned that all is not well in Islamabad and a big storm may hit the corridors of power in the near future. While speaking on Geo News’ programme Geo Pakistan, Mir said, “Maujooda haqoomti ittehaad mein sab kuch acha nahin hai aur Islamabad mein honay waali siyaasi garma garmi aanay…
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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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‘Pakistan is not going to default’: Miftah Ismail
The pressure on the Pakistani rupee will “vanish” in a few weeks, according to Finance Minister Miftah Ismail, who also stated that Pakistan is not going to default. He predicted that dollar inflows into Pakistan will exceed dollar outflows soon, creating a “stable exchange rate”. Additionally, he said that within three months, imports will “organically”…
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Pakistani rupee falls to Rs233 per US dollar in the interbank market
The Pakistani rupee (PKR) continued to fall on Tuesday as the country’s political turmoil worsened, trading at Rs233 to the dollar in the interbank market. Today, the US dollar gained Rs3.12 versus the local currency, compared to the previous day’s finish of Rs229.88, which was an all-time high at the time. The local currency has…