New Delhi, Feb 2 (IANS) The Pakistan government has become addicted to IMF borrowing much like a drug addict and refuses to extricate itself from the self-made problem of creating cycles of foreign exchange shortages and bare sufficiency with IMF loans, according to a new report.These are accompanied by fiscal profligacy as seen in the government’s inability to contain needless expenditures and raise sufficient revenues to keep its debt at sustainable levels, according to an article by former …
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Chennai, Feb 2 (IANS) Tamil Nadu BJP spokesman and senior leader A.N.S. Prasad said the Union Budget 2026-27 is a powerful reflection of India’s historic economic transformation under the decisive leadership of Prime Minister Narendra Modi, marking the nation’s journey from vulnerability to global leadership. Recalling the situation in 2013, Prasad said India was then derisively labelled part of the “Fragile Five”, a period marked by policy paralysis, corruption scandals, widening fiscal…
Dhaka, Feb 1 (IANS) With barely two weeks left in office, the interim government has yet to pass two critical banking reform laws that the central bank says are essential for strengthening regulatory oversight of Bangladesh’s financial sector, local media reported on Sunday.The pending laws relate to enhancing the autonomy of the Bangladesh Bank (BB) and reforming the ownership and governance structure of banks.Both measures were at the top of the reform agenda pledged by the interim administr…
New Delhi, Jan 30 (IANS) Pakistan’s socioeconomic crisis is being worsened by rising food inflation and unemployment rates, according to a media report.Maldives Insight cited the World Bank’s data to show that about 45 per cent of the population in Pakistan is classified as living below the Poverty Line (BPL). The country’s unemployment rate remains at a 21-year low, with investment at a 50-year low and gross debt-to-GDP ratio at 71.3 per cent.“All this deepens stagnation, inequality, fi…
New Delhi, Jan 30 (IANS) India’s foreign exchange reserves increased by $8.053 billion in the week ended January 23 — reaching an all-time high of $709.413 billion, according to data released by the Reserve Bank of India (RBI) on Friday.The previous all-time high for the country’s foreign exchange reserves was $704.89 billion, registered in September 2024.According to the RBI data, the value of Foreign Currency Assets (FCA), the largest component of the reserves, increased by $2.367 billion t…
Washington, Jan 29 (IANS) Bhutan’s economy is projected to grow a strong 7.4 per cent in FY2025/26 and remain sturdy in the following year, propelled by rising hydropower exports, a tourism rebound, and higher capital spending, the International Monetary Fund (IMF) has said.Inflation is expected to converge toward 4 per cent, anchored by the currency peg and the high import content of investment, according to the IMF Executive Board, which concluded its 2025 Article IV consultation with Bhutan…
Hyderabad, Jan 28 (IANS) India is ready to take the next step in civil aviation by getting the manufacturing ecosystem ready, Civil Aviation Minister K. Ram Mohan Naidu said on Wednesday.He said the manufacturing ecosystem will not only cater to domestic demand that is going to grow in the next 10-20 years but India can become a place for global exporters.The Minister was talking to the media persons after inaugurating Wings India 2026, the civil aviation summit, at Begumpet Airport here.He said…
Islamabad/New Delhi, Jan 27 (IANS) Pakistan faces structural economic problems under its latest $7 billion International Monetary Fund (IMF) arrangement, which analysts argue cannot be resolved by revenue raised from arms exports alone. Defence sales, particularly of aircraft, hinge on robust production capacity, proper training and a guaranteed post-delivery of spare parts, yet the Chinese-made JF-17 aircraft, at the heart of Pakistan’s push for defence exports, has proven fallible, an India …
New Delhi, Jan 27 (IANS) The Congress released a report on Tuesday, criticising the economic policies of the Narendra Modi government and alleging that jobless growth is taking place in the economy.The report claimed that between 2017-18 and 2023-24, employment in the manufacturing sector fell from 12.1 per cent to 11.4 per cent, while in the services sector it declined from 31.1 per cent to 29.7 per cent.At the same time, the employment in the agriculture sector rose from 44.1 per cent to 46.1 …
New Delhi, Jan 26 (IANS) Pakistan’s economy continues to survive on external support rather than real reform, as policymakers rely on foreign borrowing and strategic alliances to avoid repeated financial collapse, a report has said.For decades, Pakistan has faced recurring economic crises, only to be rescued each time by foreign creditors, the International Monetary Fund (IMF), or friendly nations, according to an analysis by Sakariya Kareem.Instead of building a competitive export-driven econ…