A four-day winning streak ended at the Pakistan Stock Exchange on Friday as a Moody’s report sparked concerns among investors, who remained cautions while trading stocks. The rating agency downgraded Pakistan’s credit rating to Caa1 from B3. The stock market expected further deterioration in the economic outlook of the country. Despite pessimism, the benchmark KSE100 index registered a steady b
Finance Minister Ishaq Dar said on Saturday that the rupee had been regaining strength against the dollar and the dollar would fall below Rs200, because it had gone beyond its real value. Talking to a private TV channel, the finance minister said the country’s macroeconomic indicators had surely lots of problems but the economic mess was inherited from the previous government that “left us on t
Pakistan’s central bank is scheduled to announce its key policy rate for the next seven weeks on upcoming Monday. A majority of pundits have developed consensus that the bank will leave the rate unchanged at 15% in order to wait for the stabilisation of economy. However, a significant section of market participants did not rule out a reduction of 25-50 basis points, considering a fall in inflat
Pakistan on Saturday assured the World Bank to timely implement prior actions for over $1 billion budget support loans amid the country's inability to create consensus among all the domestic stakeholders and narrowing political space to take difficult steps. The assurance has been given by Finance Minister Ishaq Dar two days before his departure to Washington, where he is expected to participat
Pakistan, speaking for the Group of 77 (developing countries) and China, has called for a clear roadmap to overcome the recent series of “shocks” to the world economy, including the deadly coronavirus pandemic and the spike in commodities prices, that have disproportionately impacted the poorest countries. “The unequal impacts have been accompanied by a deficit in solidarity – as visible on vac