Ishaq Dar’s boastful comeback has deepened Pakistan’s economic turmoil. In a fairly short stint, Mr Dar has not only worsened his party’s political prospects but has also brought Pakistan on the verge of defaulting on external debt despite taking over the baton after Pakistan secured the International Monetary Fund (IMF)’s clubbed seventh and eighth tranches. Finding himself short on time and a
At the Apex Committee meeting over terrorism in Peshawar on Friday, Prime Minister Shehbaz Sharif complained that the International Monetary Fund (IMF) mission visiting the country for discussion to resume its bailout package was giving a ‘very tough time’ to Finance Minister Ishaq Dar and his team. It is time the Fund did it. Period. If Pakistan wants to break up with the lender of last resort
Prime Minister Shehbaz Sharif on Sunday reiterated that the country was facing substantial financial challenges, with the International Monetary Fund (IMF) “combing every book” during the ongoing negotiations over the ninth review of the $7 billion loan programme. The IMF delegation, headed by Nathan Porter, and the government began the make-or-break discussions last week. Pakistan needs to com
Former Prime Minster Imran Khan says if returned to power after the elections, he would have no choice except to support the role of the International Monetary Fund (IMF) in stabilising the country’s economy. Some idea of how the PTI leadership would go about dealing with the lenders has been provided by Mr Shaukat Tarin. According to the PTI chairman, he will be the federal finance minister if
Recently, the rupee lost roughly 20 per cent value within seven trading sessions. It fell from Rs230.89 to a US dollar on January 25 to 276.57 per dollar on February 3 in the interbank market. The rupee lost this much value in just seven working days as the State Bank of Pakistan reintroduced market-driven exchange rates from January 26 on the International Monetary Fund’s (IMF) insistence. For