Popular Post

For new hires, the government to introduce a contributing pension plan
News

For new hires, the government to introduce a contributing pension plan

Pakistan Defence Minister on IMF official's statement
Politics

Pakistan Defence Minister on IMF official's statement

Pakistan Tehreek-e-Insaf president Chaudhry Pervez Elahi arrested
News

Pakistan Tehreek-e-Insaf president Chaudhry Pervez Elahi arrested

Petrol Prices Downfall To US Dollar Decreased
News

Petrol Prices Downfall To US Dollar Decreased

CM Mahmood signs summary for K-P Assembly dissolution
Politics

CM Mahmood signs summary for K-P Assembly dissolution

Officials from the State Bank of Pakistan claim that Pakistan is not in danger of default

  • author
  • 2022-07-20 22:28:36
  • News
Officials from the State Bank of Pakistan claim that Pakistan is not in danger of default

Description:


Senior State Bank of Pakistan (SBP) officials believe that Pakistan"s economic situation has changed in recent months and that the country is not in danger of default.

Officials are optimistic that with the International Monetary Fund (IMF) programme in place, meeting the external financing requirements will be easy.

According to references, the IMF has convinced Pakistani authorities that the $1.17 billion tranche will be approved by the Executive Board after August 15.

Inflation is expected to range between 18 and 20 percent in the current fiscal year, according to the central bank. There is no need to panic, according to the central bank, because the country"s external debt is sustainable.

According to sources, despite the political ambiguity, the IMF is aware that all political parties in Pakistan support the Fund"s programme.

According to sources, friendly nations have assured Pakistan of their support following the approval of the IMF programme, and the country will receive substantial funds from friendly countries.

GDP growth has varied between 5% and 6% over the last two years. However, due to an increase in imports and a rising deficit, the growth was not sustainable. The central bank anticipates GDP growth of 3 to 4% in the current fiscal year.

According to central bank officials, Sri Lanka"s current account deficit is three to four times that of Pakistan. Furthermore, Sri Lanka took more than two years to establish the policy rate and exchange rate, implying that Pakistan"s situation should not be compared to Sri Lanka"s.

 

You may also like

Popular posts

States With the Most elevated Death Rates from Alzheimer’s Disease
Lifestyle

States With the Most elevated Death Rates from Alzheimer’s Disease

  • 2023-08-16 13:27:23
KP Govt bans use of social networking apps in offices
News

KP Govt bans use of social networking apps in offices

  • 2023-08-16 13:10:30
Petrol price in Pakistan increased by Rs17.50 to Rs290.45/litre
News

Petrol price in Pakistan increased by Rs17.50 to Rs290.45/litre

  • 2023-08-16 12:45:54
Instagram's Twitter-like app is going to be launched this week.
Telecom

Instagram's Twitter-like app is going to be launched this week.

  • 2023-07-05 10:18:56
Google's Latest Tool Allows You to Verify Fake Images Online
Telecom

Google's Latest Tool Allows You to Verify Fake Images Online

  • 2023-07-05 10:08:14

Pages

Subscribe our Newsletter!

Subscribe to our email newsletter to receive useful articles and special offers.