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Pakistan’s Finance Ministry says inflation would remain high in 2023
According to Pakistan’s Finance Ministry, inflation would remain high. It was reported that Citing worldwide experience, Pakistan’s central bank noted in its annual report that nations prioritizing growth over pricing and financial stability are unable to “sustain growth and avoid repeated boom-bust cycles and the financial crisis.” Given that the country’s fiscal deficit increased by…
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How Pakistan’s floods sparked a debate at Cop for Loss and Damage Fund
Pakistan’s floods sparked a debate at Cop for Loss and Damage Fund. It was reported that Pakistan appealed for damage compensation with other frontline countries when the world was still reeling from the devastating destruction. In spite of efforts by certain wealthy nations to separate them, Pakistan carried this resolution to the Sharm el-Sheikh negotiations…
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Pakistan will receive $1.5 billion in funding, by Asian Development Bank.
Pakistan will receive $1.5 billion in funding, by Asian Development Bank. It was reported that on October 21, 2022, the Asian Development Bank (ADB) authorized a US$ 1.5 billion loan to Pakistan to help with social protection, food security, and employment support. Inflation, terrible floods, and messed-up global supply chains have all had an effect…
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World Bank: Pakistan’s economy is contracting as prices are rising.
World Bank: In the wake of catastrophic flooding, Pakistan’s economy is contracting as prices are rising. It was reported that in the current fiscal year, which ends in June 2023, Pakistan’s economy is predicted to rise by just 2%. The slower growth will be driven by damages and disruptions brought on by catastrophic floods, a…
