Pakistan’s concern of a default has ended, as the executive board of the International Monetary Fund (IMF) approved $3 billion stand-by agreement for Pakistan. The approval allowed an immediate disbursement of $1.2 billion in order to help Pakistan stabilise its ailing economy. It can be said that there are no further default speculations or significantREAD MORE
As of March 2023, Pakistan’s total foreign debt was estimated at USD 125.7, according to the US State Department figures. Despite borrowing sums of money, some countries still manage to be financially stable owing to the fact that they themselves are net creditors as well. On the other hand, if a country is unable toREAD MORE
The current state of Pakistan’s economy is appalling. Several factors are said to be responsible for such precarious economic conditions both at the micro and macro levels, that include depleting reserves, inflation, low tax to GDP ratio, rampant corruption and ad hoc foreign policies. There is no doubt that all the aforementioned factors are somewhatREAD MORE
Pakistan joined the International Monetary Fund (IMF) in 1950, three years after Pakistan’s inception. Pakistan, as a newly established country, was facing fiscal issues. Eventually, Pakistan became the new client of the IMF in 1958, when Pakistan, for the first time, knocked on the door of the IMF for a bailout. From 1958 until now,READ MORE
Economic corridors are a new way for nation states to build partnerships. Such partnerships pave way for regional connectivity with mutual economic benefits. In contemporary times, major powers seek cheap and secure ways to expand their economic influence by connecting with major markets around the globe. Globalisation has raised the importance of regional and extraREAD MORE
Reko Diq is one of the world’s largest undeveloped copper-gold deposits. It has the potential to solve Pakistan's energy crisis by making the country self-sufficient in natural gas and boost the economy by generating revenue. Every year, Pakistan imports up to 100,000 tonnes of copper, while the same metal mined at Saindak is sent toREAD MORE