National forex reserves rise to $11.64b

admin — Fri, 19 Jun 2009 22:06:21 +0000

KARACHI: National exchange reserves mounted to $11.64 billion, State Bank of Pakistan said Thursday. According to SBP spokesman, the national forex reserves bulged by $128.3 million and forex reserves with the central bank stand at $8.30 billion. The central bank spokesman said the bank achieved its target of deal with International Monetary Fund, under which the SBP was to take its reserves to $8 billion by June 30, 2009.

Pak Budget deficit to be 4.6pc: IMF

admin — Fri, 29 May 2009 04:15:29 +0000

ISLAMABAD: International Monetary Fund (IMF) Thursday said that the unemployment rate is likely to increase in Pakistan, as the direct investment in the country and foreign remittances have gone down. Talking to media, IMF Country Director said the third installment of loan will be issued to Pakistan in July; whereas, Pakistan wants more loans in addition to the ongoing $7.6 billion loan programme. He said Pakistan’s request for loan is under consideration. The IMF official said that upcoming Pakistani budget will be 4.6 percent, GDP at 3.5 percent and the inflation rate will remain at 7.5 percent, adding the government needs to take care of the deprived sections of society. A ceremony was held here at Planning Commission, where an IMF economic report on Middle East and Central Asian region was issued.

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National forex reserves rise to $11.64b

Pak Budget deficit to be 4.6pc: IMF