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Articles for tag: Banks, bonds, central, Foreign, Foreign Central Banks shift from long-term US bonds to short-term T-Bills, longterm, shift, shortterm, TBills

April 17, 2025

News Desk

Foreign Central Banks shift from long-term US bonds to short-term T-Bills

Listen to the article Foreign central banks and government institutions reduce their long -term US debt and move to the Treasury’s short -term accounts, according to new US Treasury data. The latest Treasury International Capital (TIC) report shows that in February, official foreign institutions sold a pure $ 19.6 billion in US bonds and notes – the guarantees of over one year. This marked the fourth consecutive month of net selling, after $ 24.1 billion unloaded in January and $ 42.3 billion in December. In contrast, foreign buyers added $ 61.6 billion to finance ministry accounts in February, reflecting a

November 30, 2024

News Desk

The PCB chief hints at the “long-term” formula applicable to all ICC events

Pakistan Cricket Board Chairman Mohsin Naqvi addresses a press conference for the Champions Trophy at the Gaddafi Stadium in Lahore on August 26, 2024. — X/@TheRealPCB Will not allow unilateral decisions, vows Mohsin Naqvi. “Decisions cannot be limited to the Champions Trophy.” Pakistan fully ready to host tournament: PCB chief. As uncertainty looms over the 2025 Champions Trophy being hosted by Pakistan, Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi expressed optimism that a “long-term” formula, which would be beneficial for both the country and cricket, will apply to all future International Cricket Council (ICC) events. “We will not allow unilateral

September 7, 2024

News Desk

The planning ministry forms a high-level policy council to chart long-term economic strategies

Federal Minister for Planning Ahsan Iqbal chairs the first policy board meeting of the Planning Commission on September 6, 2024. — Screenshot via Ministry of Planning, Development and Special Initiatives ISLAMABAD: The federal government has constituted a high-level policy council headed by Planning Minister Ahsan Iqbal with the aim of “enhancing transparency and improving the economic planning process with the active participation of the private sector and business leaders”. The policy council is an initiative of the Ministry of Planning and the Planning Commission of Pakistan, comprising a diverse group of esteemed members from various fields, including former federal ministers,

July 30, 2024

News Desk

Fitch upgrades Pakistan’s long-term rating

KARACHI: Fitch Ratings has upgraded Pakistan’s long-term foreign currency issuer rating (IDR) to ‘CCC+’ from ‘CCC’, indicating an improvement in the country’s external debt repayment capacity ahead of the International Monetary Fund’s (IMF) executive board meeting for approval Extended $7 billion facility (EFF). The global rating agency upgraded the rating for the second time in the last 12 months. Prior to this, it downgraded Pakistan to ‘CCC-‘ in February 2023. In its commentary, Fitch said that “the upgrade reflects greater certainty about the continued availability of external financing, under its Staff Level Agreement (SLA) Pakistan with IMF for a new

July 29, 2024

News Desk

Fitch upgrades Pakistan’s long-term foreign currency rating to CCC+

International credit rating agency Fitch on Monday upgraded Pakistan’s long-term foreign currency issuer rating (IDR) from CCC to CCC+. The upgrade signals an improvement in Pakistan’s external liquidity and financing conditions, bolstered by the recent IMF accord. Fitch highlighted the strong performance under the previous agreement with the IMF, which helped Pakistan narrow its fiscal deficits and rebuild its foreign exchange reserves. However, the agency warned that Pakistan’s large funding needs could leave it vulnerable if demanding reforms are not implemented, potentially undermining program performance and funding. Fitch expects IMF board approval for the $7 billion, 37-month program by the

July 29, 2024

News Desk

The IMF is calling for a long-term debt rollover of $12 billion

Islamabad: Pakistan was in talks with China, Saudi Arabia and the United Arab Emirates to restructure $12 billion of debt for up to five years, aiming to meet the final condition for approval of the $7 billion International Monetary Fund program, he said. on Sunday Finance Minister Muhammad Aurangzeb. In his first press conference after returning from Beijing where he had gone for talks on renewing the energy debt, the finance minister, however, did not announce any major breakthrough. However, he said China “recognized the issue and the discussions were ‘very constructive’.” “We are asking to extend the maturity of

Pakistan, World Bank agree on long-term partnership under ambitious CPF

Agreement reached during meeting between Prime Minister Shehbaz Sharif and World Bank delegation led by Martin Raiser Prime Minister Shehbaz Sharif witnesses the signing of a joint communiqué by World Bank Country Representative Najy Benhassine and Economic Affairs Secretary Dr Kazim Niaz on May 8, 2024. — PID Pakistan and World Bank agree to work together on CPF. The Prime Minister lauds the World Bank’s contribution to Pakistan’s development. WB ready to work with Pakistan: Martin Raiser. Pakistan and the World Bank have agreed to work together on a new, robust and ambitious Country Partnership Framework (CPF) to advance the

February 21, 2024

News Desk

US and EU protectionism on China’s cars harms their long-term growth

BEIJING: Trade protectionist measures taken by the United States and Europe will harm their own long-term development and burden the world’s progress and prosperity, a Chinese Foreign Ministry spokesman said here on Tuesday. It has been reported that the United States is considering restricting imports of Chinese smart cars and related components through non-tariff means. The EU has launched an anti-subsidy investigation into electric car imports from China. In response, spokesman Mao Ning told a daily news briefing that division of labor and mutually beneficial cooperation are distinctive features of the automotive chain. Also read: China’s Geely launches 11 low-orbit

October 30, 2023

News Desk

What does this CDC report reveal about long-term Covid in children?

An 8-year-old girl is tested for the coronavirus disease at a school clinic in South Gate, Los Angeles, California, USA. on August 12, 2021. — Reuters A new report suggested that in 2022, 1% of children in the United States suffered from long-term Covid-19 symptoms, as researchers showed that those infected with the virus can have many symptoms for months. According to the report recently published by the Centers for Disease Control and Prevention, about 92% of those 17 and under in the past year harbored antibodies indicating a previous infection with Covid-19. The report’s authors, however, also noted the

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