The new Prime Minister of Pakistan, Shehbaz Sharif, has outlined two key areas of focus to address the country’s economic challenges: Economic stability: He has acknowledged the need for another long-term bailout from the International Monetary Fund (IMF) to stabilise Pakistan’s fragile economy. However, he has also vowed to eliminate Pakistan’s dependency on the IMF and work towards economic s
Strengthening ties and cooperation with regional countries, promoting platforms like BRICS and focusing on trade in local currencies may challenge the dominance of the US dollar in the coming years on account of a changing world order. At present, the US has technological, economic and political dominance across the globe. The potential diversification of foreign exchange reserves can help a
While reiterating Pakistan’s renewed commitment to implementing the agreed programme with the International Monetary Fund (IMF), Finance Minister Muhammad Aurangzeb made a significant observation at the Atlanta Council think tank: “We know what to do to rebuild the economy.” Realising that the IMF stability programme is squeezing, though not closing, the space for inclusive and sustainable econ
Foreign Minister Ishaq Dar’s recent statement about consultations with stakeholders on the resumption of trade ties with India marks a significant stride towards revitalising the economy and fostering peace in the region. For decades, it has been evident that major political parties on both sides have advocated for normalising trade relations, but some important stakeholders had reservations. H
Export of manpower has brought it the welcome buoy of remittances that supports it balance of payments. Ramazan led the quantum of remittances to increase to nearly $3bn in March, its highest level since April 2022 and more than twice the amount of Pakistan’s top export of textiles. However, changes in host countries of the bulk of Pakistan’s immigrants have not been kind in recent years. Take