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Ishaq Dar briefs President Alvi on financial, monetary outlook of Pakistan

by Pakistan Latest News Update
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ISLAMABAD –Finance Minister Ishaq Dar referred to as on President Dr Arif Alvi in Islamabad on Friday.

Throughout the assembly, the finance minister briefed the president on the general financial and monetary outlook of the nation.

Dar additionally briefed Alvi on varied steps taken by the federal government to supply reduction to the folks of Pakistan, particularly to the unprivileged inhabitants of the underserved areas of the nation and the flood affectees.

The assembly comes amid delays in finalising a schedule for formal talks on the overdue ninth evaluate of a $7 billion International Monetary Fund (IMF) mortgage programme and rising default threat.

On Wednesday, Pakistan’s default threat as measured by five-year credit-default swaps (CDS) — insurance coverage contracts that shield an investor in opposition to a default — soared to 75.5 per cent from 56.2pc a day in the past, in line with knowledge offered by analysis agency Arif Habib Restricted.

Pakistan is scheduled to pay $1 billion on Dec 5 in opposition to the maturity of five-year sukuk, or Islamic bonds.



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