Pakistan’s economy in ‘collapse’ as IMF visits

POLITICAL MAYHEM Pakistan is locked in an endless cycle of servicing external debt. State Bank governor Jamil Ahmed last month said that the country owed US$33 billion in loans and other foreign payments before the end of the fiscal year in June. A diplomatic offensive has seen US$4 billion rolledContinue Reading

World Bank approves US0 million loan to support Philippines’ recovery, financial sector

MANILA: The World Bank said on Tuesday (Jan 31) it has approved a $600 million loan to support the Philippines’ economic recovery and efforts to make its financial sector more resilient. The funds will be channelled toward strengthening its financial sector stability, expanding financial inclusion and improving disaster risk finance,Continue Reading

New Czech president vows to boost ties with Taiwan

PRAGUE: Czech president-elect Petr Pavel on Monday (Jan 30) vowed to boost his country’s ties with Taiwan after holding a phone call with the island’s president and foreign minister. President Tsai Ing-wen congratulated Pavel on his win in Saturday’s presidential run-off over populist billionaire Andrej Babis. “I thanked her forContinue Reading