News Snapshot:
Pakistan is facing an uncertain economic situation due to a delay in the revival of a stalled multibillion-dollar International Monetary Fund programme. Chinese banks have agreed to refinance Pakistan with USD 2.3 billion worth of funds in a massive relief for the cash-starved country to help it bolster its depleting foreign exchange reserves, the finance minister has said. Miftah Ismail said on Thursday that the terms and conditions for refinancing have been agreed and the inflow is expected “shortly” after some routine approvals from both sides. “Good News: The terms and conditions for refinancing of RMB 15 billion deposit by...
