Magazine “Pakistan is facing a polycrisis and it is the convergence of political, economic, social, and security crises that makes the current situation so volatile.” Supporters of Pakistan’s former Prime Minister Nawaz Sharif attend a welcoming rally for their leader in Lahore, Pakistan, Saturday, Oct. 21, 2023. Credit: AP Photo/Anjum Naveed Advertisement Pakistan is at … Read more
Advertisement As Pakistan heads toward its next general elections, set for late January 2024, the political scene is heating up. One former prime minister – Imran Khan – is facing trial on charges of leaking state secrets this week, while another former PM – Nawaz Sharif – just stage a triumphant return home, having received … Read more
Advertisement Pakistan has drifted into geopolitical oblivion. This, despite its important geostrategic location, large population — the fifth greatest in the world — a powerful military, nuclear weapons and semi-industrial economy. It lurches from crisis to crisis and is close to becoming a non-player on the world stage. There are four primary reasons for its … Read more
Advertisement On July 12, the International Monetary Fund (IMF) approved a bailout package worth $3 billion for Pakistan. The first half of this year brimmed over with apprehensions, and predictions of Pakistan defaulting on its debt. While the IMF deal has ensured that Pakistan avoids default, at least for the time being, it unleashed a … Read more
The Pulse | Economy | South Asia Pakistan will now only make interest payments in both years, its finance minister has said. Advertisement Pakistan’s finance minister on Thursday said China has rolled over a $2.4 billion loan for the cash-strapped Islamic nation for two years, a move aimed at helping the country overcome one of its worst economic crises. … Read more
Advertisement The International Monetary Fund approved a much-awaited $3 billion bailout for Pakistan on Wednesday, the global lender said, a move that’s likely to save the nation from defaulting on its debt repayments. The IMF said its executive board approved an agreement to release the funds over nine months to support Pakistan’s economic stabilization program. … Read more
Advertisement After months of delays and uncertainty, Pakistan and the International Monetary Fund (IMF) have finally reached a crucial $3 billion bailout deal. This last-minute Stand-By Arrangement (SBA) agreement, which unlocks more than the expected $1.1 billion before the expiry of a ninth review on June 30, comes as a much-needed respite for Pakistan, which … Read more
The Pulse | Economy | South Asia The long-awaited package will provide the country, which is in the grip of political and economic crises, with some relief. Prime Minister Shehbaz Sharif meets with IMF Managing Director Kristalina Georgieva on the sidelines of the Summit for New Global Financing Pact in Paris, June 22, 2023. Credit: Twitter/Kristalina Georgieva Advertisement The … Read more
Iranian President Dr. Ebrahim Raisi (left) says goodbye to Pakistan Prime Minister Shehbaz Sharif at the Pakistan-Iran border at the conclusion of the latter’s visit to Iran, May 18, 2023. Credit: Twitter/Prime Minister’s Office Advertisement Pakistan has approved barter trade with Iran, Afghanistan, and Russia to stabilize its economy and reduce the country’s dependence on … Read more
Beyond the Indus | Politics Unpacking Pakistan’s economic and political meltdown. Advertisement In the very first episode of Beyond the Indus, hosts Tushar Shetty and Joe Wallen are joined by Dr Miftah Ismail, former Finance Minister of Pakistan, and Michael Kugelman, Deputy Director of the Asia Program at the Wilson Centre, D.C., to discuss Pakistan’s ongoing poly-crisis. … Read more