Pakistan Imf Bailout

Moody’s slashes Pakistan’s credit rating to its lowest in 30 years: How this worsens the debt-ridden country’s woes

Global ratings agency Moody’s cut Pakistan’s sovereign credit rating from Caa1 to Caa3 — the lowest in three decades — saying this significantly ‘raises default risks’. This is the latest in Islamabad’s economic woes as it struggles to secure a bailout from the International Monetary Fund

Bending over backwards: Desperate for IMF bailout, Pakistan saddles impoverished citizens with steep loan interest hike

The Shehbaz Sharif-led government has agreed to hike interest rate on loans by 2 per cent or 200 basis points (bps) to meet another prerequisite set by IMF

No salaries, ban on luxury cars and 5-star hotels: Pakistan’s austerity measures for politicians who looted the nation

Desperate to save the country from bankruptcy, Shehbaz Sharif announced austerity measures for Pakistan’s ministers. They will get no salaries and have to pay their bills. Five-star stays and purchase of luxury items are banned, as the PM urged the nation to embrace the culture of frugality

Pakistan’s ‘mini-budget’ gives major shocker to common man: How petrol, ghee, cigarettes have become unaffordable

To please the IMF, Pakistan has unleashed misery on its people already grappling with inflation. With an increase in GST, the cost of ghee, cold drinks, and cigarettes will rise. Fuel prices have hit a historic high with petrol costing Rs 272 per litre

Pakistan’s crisis is only going to worsen: What happens if the country defaults

New York-based global ratings agency Fitch has warned that the ‘possibility of a default’ is real in Pakistan. If the country cannot repay commercial debt, its ability to import goods will be hit. This will lead to higher inflation, industrial losses, and a rise in unemployment

Pauper Pakistan’s BoP gets out of balance

Over the past several months, Pakistan has been hit by a severe economic crisis. The Pakistani rupee has hit a record new low at 270 per dollar. Fuel and gas prices have also hit new highs amid soaring inflation

Why did Pakistan import luxury cars worth billions amid economic crisis?

Pakistan is facing a foreign exchange crunch. But that did not stop the government from reportedly allowing luxury cars to be imported even as essential consumer goods and pharmaceuticals were stuck at ports

Economic collapse looms for Pakistan as IMF delegation visits

With Pakistan in desperate need of yet another loan from the IMF, the government led by PM Shehbaz Sharif has started to implement a slew of harsh measures that may increase the hardships of the common people

Pakistan faces more hardship as govt takes tough measures to secure IMF loan

As Pakistan spirals deeper into crisis amid a shortage of dollars and fast increasing inflation, the country is in desperate need for a fresh loan from the IMF

Why petrol prices have reached an all-time high in cash-strapped Pakistan

Pakistan is facing one of its worst economic crises. Now it has increased the price of petrol and diesel by Rs 35 per litre, as it looks to secure the next tranche of the IMF bailout package. For citizens already struggling with inflation, this comes as another jolt