Delayed funds Editorial Published August 26, 2024 A FRIEND in need is a friend indeed. China, Saudi Arabia, and the UAE have lived up to the adage, rescuing Pakistan multiple times in recent years by propping up its international reserves through large cash deposits and loans, as well as rolling over their […]
Analysis: Are more loans the answer to Pakistan’s ‘empty coffers’? Shahid Iqbal Published October 25, 2022 FINANCE Minister Ishaq Dar seems to have run out of steam ever since he returned from […]
54 countries, including Pakistan, urgently need debt relief: UN AFP Published October 11, 2022 LISTEN TO ARTICLE1x1.2×1.5x Cascading global crises have left 54 countries — home to more than half of the world’s poorest […]
Debt deferment Editorial Published September 26, 2022 PAKISTAN is seeking deferment of its bilateral debt of nearly $10bn for a few years, which, if approved by the wealthy Paris Club creditors, will save it $1.1bn in loan repayments this fiscal year. That will ease pressure on the nation’s dwindling foreign exchange reserves, […]
China says its infrastructure programme will spread trade and prosperity; critics warn its aim is to trap nations in debt. But for cash-strapped countries like Pakistan, there are few alternatives, […]
Beijing: China said it will provide the “necessary support” to Pakistan to tide over the present financial crisis, expand CPEC projects as the two countries signed 16 agreements on […]
Commandment – Do not take interest when you borrow money [2:279] O ye who believe! fear Allah and relinquish what remains of interest, if you are believers.
Commandment – O ye who believe! when you borrow one from another for a fixed period, then write it down [2:283] O ye who believe! when you borrow one from another for a fixed period, then write it down. And let a scribe write it in your presence faithfully; and no scribe should […]
By Binoy Kampmark Global Research, October 19, 2014 This business has been too focused on growth and cared more about the loan outcome than the customer outcome. Andy Haste, Wonga Chairman, The Guardian, Oct 16, 2014. Keeping people poor in a world of seedy abandonment. Borrowing at phenomenal rates. Loan […]
CAIRO: ARAB NEWS Thursday 23 August 2012 Egypt has asked for a $ 4.8 billion loan from the International Monetary Fund, which stressed the need for a reform program to […]