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Flight of capital is nothing new for Pakistan; it has gone on for decades. Had that not been the case the Finance Minister would not have admitted that Pakistanis have accumulated over $200 billion in banks abroad. That said there were periods of political stability wherein flight of capital slowed substantially and direct foreign investment (DFI) inflows were huge.

The largest US grain harvest in history has pushed prices to four-year lows, which usually means a sales bonanza for the world's largest food exporter. Not this year. Traditional rivals and aggressive new competitors with their own huge harvests, such as Ukraine and Russia, are leveraging the dollar's strength to snap up a bigger share of a market that is shrinking as importers themselves boost output.
The recent volatility in financial markets reinforces the need for the Federal Reserve to be patient with its policy stimulus and to clearly tie an eventual interest-rate rise to improving economic conditions, a top Fed policymaker told Reuters. Boston Fed President Eric Rosengren said that while it would take a few more weeks to understand the real economic fallout from the market selloff, he could "easily imagine" a scenario in which the US central bank keeps rates near zero until 2016.
"So who wrote Bilawal's speech?"
The news has come from Washington that the IMF has declined the request by our Finance Minister for release of the quarterly installment following the fourth review. Instead, it is now proposed that the Fund will undertake the fifth review shortly of the first quarter of 2014-15. If successfully completed, there will be a combined release of $1.1 billion, following Executive Board approval, in December 2014.
The mandated fourth quarterly review under the International Monetary Fund's (IMF) Extended Fund Facility (EFF) will be cobbled with the fifth review as per the IMF website. The reason: delay in complying with time bound actions including sale of 10 percent of OGDC shares, issuance of Sukuk bonds, reversing the court decision disallowing the government to collect Gas Infrastructure Development Cess (GIDC) as well as raise power tariffs buy 7 percent.
Protests in Hong Kong, an economic slowdown and anti-corruption drive in China and a coup in Thailand: Asia is no longer a market of constant growth for luxury goods firms. LVMH, world number-one in the sector and owner of brands like Louis Vuitton, Givenchy and Dior, saw its sales drop by three percent in Asia, excluding Japan, in the third-quarter of 2014, a far cry from the halcyon days of 2010-2012.

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln