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Pakistan to raise PKR 30 bn as taxes to avert default on oil and gas payments

The country's Economic Coordination Committee (ECC) has approved budget grant of PKR 30 billion for the immediate payment to state-run Pakistan State Oil (PSO), which is facing international payment obligations of about PKR 270 billion till August 28.
Shoppers at a supermarket in Islamabad, Pakistan, on Friday, July 29, 2022. Pakistan announces its consumer price index (CPI) figures on Aug. 1, 2022. Photographer: Asad Zaidi/Bloomberg(Bloomberg)
Shoppers at a supermarket in Islamabad, Pakistan, on Friday, July 29, 2022. Pakistan announces its consumer price index (CPI) figures on Aug. 1, 2022. Photographer: Asad Zaidi/Bloomberg(Bloomberg)
Published on Aug 01, 2022 04:26 PM IST
PTI | | Posted by Yagya Sharma

What does the latest IMF forecast mean for the world and India?

The International Monetary Fund on July 26 released an update to the April 2022 edition of its World Economic Outlook
Global GDP growth, according to the IMF’s latest projections, is expected to be 3.2% and 2.9% in 2022 and 2023, respectively.(AFP)
Global GDP growth, according to the IMF’s latest projections, is expected to be 3.2% and 2.9% in 2022 and 2023, respectively.(AFP)
Updated on Aug 01, 2022 12:07 PM IST

IMF cuts India's FY22 forecast by 0.8 per cent, to drop more in FY23

IMF's World Economic Outlook said a global economy still reeling from the Covid pandemic and Russia's invasion of Ukraine faces an increasingly gloomy and uncertain outlook.
International Monetary Fund logo at the IMF headquarters building during the IMF/World Bank annual meetings in Washington, U.S., REUTERS/Yuri Gripas/File Photo
International Monetary Fund logo at the IMF headquarters building during the IMF/World Bank annual meetings in Washington, U.S., REUTERS/Yuri Gripas/File Photo
Updated on Jul 27, 2022 10:12 AM IST

'Russia doing better than expected despite western sanctions,' says IMF

  • While major economies including the United States and China are slowing, the report said, "Russia's economy is estimated to have contracted during the second quarter by less than previously projected, with crude oil and non-energy exports holding up better than expected."
Russian President Vladimir Putin(AP)
Russian President Vladimir Putin(AP)
Published on Jul 27, 2022 02:14 AM IST
AFP |

Bangladesh seeks $4.5 billion IMF loan as deficit widens: Report

Known for its big garment-exporting industry, Bangladesh has sought the funds for its balance of payment and budgetary needs, as well as for efforts to deal with climate change, the Daily Star reported, citing documents it had seen.
Bangladesh's July to May current account deficit was $17.2 billion, compared with a deficit of $2.78 billion in the year-earlier period, according to central bank data.(Bloomberg)
Bangladesh's July to May current account deficit was $17.2 billion, compared with a deficit of $2.78 billion in the year-earlier period, according to central bank data.(Bloomberg)
Published on Jul 26, 2022 08:58 PM IST
Reuters |
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