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IMF

UK economy to slump 9.8pc this year on virus: IMF

A contraction in gross domestic product of 9.8 percent would however be an improvement on the previous IMF forecast of 10.2 percent, the Fund added.

Published 13 Oct, 2020 06:17pm

Business & Finance

IMF urges govt to increase taxes, energy tariffs

It is pertinent to mention that the global financial organization has not released any installments since December 2, 2019.

Published 13 Oct, 2020 10:40am

Markets

IMF to launch talks on new Argentina loan in November

Buenos Aires are hoping to renegotiate repayments on a $44 billion loan from the IMF in 2018.

Published 13 Oct, 2020 03:36am

Markets

More synchronized action needed to tackle COVID crisis: IMF's Georgieva

IMF chief says gold reserves needed as 'financial buffer'
World Bank could 'do even more' - Georgieva
African states face financing gap of $345 billion through 2023.

Published 13 Oct, 2020 12:33am

Markets

IMF chief sees $345bn financing gap for African states

IMF Managing Director Kristalina Georgieva told a conference that African states had spent an additional 2.5% of gross domestic product.
The pandemic will not be over anywhere until it is over everywhere," Georgieva said.

Published 10 Oct, 2020 12:52am

World

Kosovo's economy to shrink 7.5pc in 2020, grow 6pc in 2021: IMF

The Washington-based lender said Kosovo's gross domestic product will lose 6 percentage points this year because of diaspora flows.
Financial policies should continue mitigating the shock of the pandemic to incomes without endangering banking sector stability.

Published 09 Oct, 2020 12:18am

Markets

Argentina lures wary investors with dollar-linked bond as IMF arrives

The bond is part of a series of measures by the government and the central bank to revive confidence in the peso and encourage local savings.
"The government is trying to buy some time but these are all patches that are unfortunately arriving late."

Published 07 Oct, 2020 12:49am

World

Covid-19 downturn not as bad as feared; crisis not over: IMF chief

"The picture today is less dire... allowing for a small upward revision to our global forecast for 2020," she said. The IMF is due to present updated forecasts next week.

Published 06 Oct, 2020 08:34pm

Business & Finance

IMF urges infrastructure investment to boost post-COVID growth

The full Fiscal Monitor will be presented at the IMF and World Bank annual meetings, which get underway next week and will provide an updated assessment of the pandemic’s effect on the global economy.

Published 06 Oct, 2020 10:15am

World

IMF urges infrastructure investment to boost post-COVID growth

The IMF said in chapters from it fiscal monitor that its research shows public investment in infrastructure,
The IMF said increasing public investment by 1% of GDP in advanced and developing economies would grow their GDP by 2.7%, creating 7 million jobs directly.

Published 06 Oct, 2020 02:19am

World

IMF sees Greek economy shrinking by 9.5pc in 2020

Greece emerged from its third international bailout in 2018, after a decade-long debt crisis.
The country will register a 6.75% of GDP primary budget deficit this year due to both lower economic activity and the government's stimulus measures.

Published 02 Oct, 2020 10:53pm

World

Somalia meeting most targets on road to debt relief, says IMF

Authorities have remained steadfast in their commitment to economic reforms, meeting all structural benchmarks for the first review.
Somalia is reorganising the Central Bank, and making reforms in customs and tax collection, the Fund said.

Published 24 Sep, 2020 11:24pm

World

IMF says global economic outlook better than June prediction

But the spokesman said "the outlook remains very challenging," with emerging markets other than China facing a "precarious" situation due to the coronavirus.

Published 24 Sep, 2020 08:31pm

Business & Finance

IMF official warns coronavirus will weigh on some economies for years

The Fund has provided some $90 billion in total financing to 79 countries, including 20 in Latin America, since the start of the health crisis, an IMF spokeswoman said.

Published 24 Sep, 2020 10:57am

World

IMF official sees coronavirus crisis dampening growth in some countries for years

The Fund has provided some $90 billion in emergency financing to almost 80 countries.
We're trying to preserve our financial firepower," Okamoto said, adding, "We're talking about a ... return to growth that's going to take a few years.

Published 23 Sep, 2020 11:25pm

Markets

IMF set to help Lebanon once new government in place

"The audit will also help assess the impact of the central bank's financing of government operations, and the central bank's financial engineering on its own."

Published 10 Sep, 2020 11:45pm

World

IMF says coronavirus crisis ‘far from over,’ more support needed

IMF estimates the total cost of the crisis will reach $12 trillion by the end of 2021.

Published 09 Sep, 2020 07:14pm

Coronavirus crisis "far from over," more support needed: IMF

Economists say recovery remains very fragile and uneven across regions and sectors. To ensure that the recovery continues, it is essential that support not be prematurely withdrawn

Updated 09 Sep, 2020 07:05pm

World

Invest COVID-19 aid funds selectively, says IMF chief

More than 100 countries have requested emergency financing assistance from the IMF so far.
The same way the virus hits people with preconditions the hardest, the economic crisis hits countries with weak policies, not sufficient oversight the hardest.

Published 31 Aug, 2020 06:24pm

World

US says IMF economic outlook too pessimistic

Mark Rosen faulted the IMF for veering into social issues, saying "this dynamic detracts from the usefulness and impact of the report."

Published 11 Aug, 2020 04:18am

Markets

IMF to start negotiating new Argentine lending deal over coming weeks

Within the next few weeks Argentina plans to formally request the initiation of conversations for a new program that would succeed the derailed and canceled 2018 program.
The foreign direct investment that Macri promised would be attracted by his market-friendly policies never materialized.

Published 09 Aug, 2020 12:31am

World

IMF approves $171.9mn to Madagascar to address COVID-19 pandemic

This is the second emergency disbursement since the onset of the pandemic and will help finance the country's urgent balance of payments and fiscal needs.

Updated 30 Jul, 2020 11:31pm

World

IMF board approves $4.3bn loan to help South Africa to fight pandemic

The IMF said the Rapid Financing Instrument (RFI) loan, equal to 100% of South Africa's IMF quota.
It also will "limit regional spillovers, and catalyze additional financing from other international financial institutions."

Published 28 Jul, 2020 01:20am

World

IMF did not recommend Saudi Arabia VAT tripling, official says

Saudi Arabia tripled VAT this month to 15% as it seeks to bolster state finances badly hurt by a drop in oil prices.
It's not wise at this stage to increase tax on consumption, especially in countries where the level of income is low, because this will create additional regression and additional pressure.

Published 16 Jul, 2020 08:32pm

Markets

China central bank governor says IMF should use SDRs to cope with coronavirus pandemic

A general allocation of SDRs, which are IMF units based on a basket of leading currencies, would boost all members' foreign reserves and their purchasing power, Yi Gang said.
"It would be a quick, practical, fair and cost-effective response to this once-in-a-century crisis," Yi wrote.

Published 16 Jul, 2020 08:30pm

World

IMF warns Ukraine loan requires independent central bank

The Washington-based crisis lender last month approved a $5 billion loan package for Ukraine to deal with the economic hit from the coronavirus pandemic.

Published 15 Jul, 2020 12:15am

World

IMF urges Lebanese to unite around government financial rescue plan

The government's rescue plan has served as the cornerstone of talks with the IMF and maps out massive losses in the financial system.
Arvanitis said in an online press conference that delaying taking action would only worsen the outlook for the economy.

Published 13 Jul, 2020 07:00pm

World

Lebanon holds meeting with IMF, more talks next week

The talks have been bogged down by a row over the scale of financial losses that has embroiled the government.
Finance Minister Ghazi Wazni said last week the talks were on hold pending the start of economic reforms and agreement on the losses.

Published 10 Jul, 2020 08:50pm

World

IMF warns cutting spending too soon could derail recovery

Government spending "will need to remain supportive and flexible until a safe and durable exit from the crisis is secured.
The health crisis and the business shutdowns to contain the spread of COVID-19 demanded "a massive fiscal response" of close to $11 trillion to help support households and prevent bankruptcies."

Published 10 Jul, 2020 06:40pm

Business & Finance

Pakistan economy to gradually ‘recover’ in 2021: IMF

Pakistan’s near-term economic outlook has worsened notably, and growth is estimated at –0.4 percent in FY 2020.

Published 10 Jul, 2020 11:29am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 30	278.40
USD PKR Interbank Buying / Apr 30	278.20
USD to Japanese Yen / May 1	157.86
USD to Swiss Franc / May 1	0.92
Pound Sterling to USD / May 1	1.25
Euro to USD / May 1	1.07

Stock	Volume
S&P 500 / Apr 30	5035.69
India Sensex / Apr 30	74482.78
Nasdaq / Apr 30	15657.82
Hang Seng / Apr 30	17763.03
Dow Jones / Apr 30	37815.92
Germany DAX 30 / Apr 30	17932.17
France CAC40 / Apr 30	7984.93
Tokyo Nikkei / May 1	38274.05

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 30	20535
Gold 10 Grams PKR / Apr 30	207390
Crude Oil USD/Barrel / May 1	81.12
Gold Spot USD/Ounce / May 1	2288.39
Cotton US¢/pound / May 1	78.01
Petrol/Litre / May 2	288.49

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 2 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 2 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 2 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 2 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 2 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 2 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 2 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 2 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 2 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 2 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 2 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 2 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 2 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 2 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 2 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 2 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 2 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 2 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 2 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 2 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 2 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 2 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 2 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 2 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 2 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 2 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 2 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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