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IMF predicts Pakistan’s economy to recover in FY21

IMF predicts Pakistan’s economy to recover in FY21

The International Monetary Fund (IMF) on Friday said that it expects Pakistan’s economy to recover in the next year mainly due to government-led interventions to reopen businesses and industries.  It said “a gradual recovery is…

SBP announces surprise 100 basis point rate cut

SBP announces surprise 100 basis point rate cut

The State Bank of Pakistan (SBP), in a surprise monetary policy committee (MPC) meeting on Thursday, cut the interest rate by 100 basis points to seven per cent.  Thursday’s cut is fifth in the last…

IMF lowers economic growth forecast for pakistan

IMF lowers economic growth forecast for pakistan

The International Monetary Fund (IMF) on Wednesday forecast Pakistan’s growth rate to clock in at -0.4 per cent in the ongoing fiscal year before rising to 1pc in the next.  The IMF’s June World Economic…