IMF warns of increased risks to global financial system
IMF warns of increased risks to global financial system
PM Khan talks to media persons in Lahore. —DawnNewsTV
10 October, 2018, 08:54
The IMF during the recent talks with Pakistan had noted that government should devalue its currency by 15 percent during ongoing fiscal year.
Pakistan's government had previously said seeking help from the International Monetary Fund was the last option and would prefer succour from friendly nations, widely interpreted as a reference to traditional allies China and Saudi Arabia.
LCCI President Almas Hyder said government should start immediate consultation with the stakeholders as increase in dollar value would spoil trade and economic activities, besides hitting the common man. "Trade policy reflects politics, and politics remain unsettled in several countries, posing further risks", he added.
With globaleconomy slowing down and countries across the world erecting trade barriers, Valecha says it is highly unlikely that exports from Pakistan will have a sharp turnaround.
But it singled out U.S. president Donald Trump for blame after he imposed tariffs on European Union steel and aluminium and on hundreds of billions of dollars of Chinese trade.
Downside to this situation, he said, is that the request for a bailout will more likely than not ensure that the Pakistani rupee remains at very weak levels.
Oil prices, which account for about 80 percent of Saudi public income, have increased by more than 70 percent since June past year to over $80 a barrel.
The IMF has cited short-term risks such as rising inflation and inflation expectations, high credit growth, and the challenging external environment for the lower 2018 and 2019 growth projections, which has also increased concerns of overheating.
It believes Brexit will fundamentally change parts of the United Kingdom economy, leaving some workers out of a job.
It's not just the world's two most powerful economies that stand to be affected by trade policy. It called for a tightening of monetary policy, a move the Reserve Bank of India did not take when it kept interest rates unchanged last week.
However, Chancellor Philip Hammond is still expected to borrow around £16bn in 2023 to plug the gap between tax revenues and public spending.
Twitter absolutely went off on Hernandez during and after the game and he was actually trending in the USA after. He even got offended when the Red Sox bunted at him to test his fielding capabilities in a 2017 game.
The news blindsided many congressional Republicans involved in foreign policy matters and some key US allies. Haley claimed the media had mischaracterized the laughter and contended it was actually a sign of respect.
As of the 4pm CDT advisory Monday evening, Michael was a category 1 hurricane with maximum sustained winds of 80 miles per hour . A hurricane hunter plane has found that Michael continues to strengthen as it moves north over the southeastern Gulf of Mexico.
She went for meetings related to her goal of securing clemency for individuals facing life sentences from nonviolent drug crimes. President Trump will have lunch with Kanye West on Thursday , the White House says.
Verizon Wireless will remain the exclusive carrier for Google's new Pixels, which were unveiled at a media event in NY today. One of the changes coming to this year's Pixel is the ability to wirelessly charge, thanks to the glass back.
The service requires a subscription and users may pick any of the available games that Sony added to the service for streaming . Project xCloud uses Microsoft's Azure infrastructure as the backbone to compute graphics and stream the games to user devices.
The iPhone XS #ChargeGate issue has finally come to an end as Apple has released a fix with its minor iOS 12.01 software update . A bug was causing some of these models to hook up with a slower 2.4GHz Wi-Fi network instead of a faster 5GHz signal.
Google + API's log data is only for kept two weeks, so it can not confirm which users were impacted by this bug. Somehow, the intimate data of the first user would be included in the collection profile.
Several models call for the Hurricane to miss major producing assets in the Gulf, but any change of track could widen the impact. India is the world's third-largest oil importer, and Iran's second-biggest oil customer after China.
However, the role also came with a bit of pressure, especially because Shangela said Gaga "handpicked" her to be in the film. Considering it was directly competing with A Star Is Born , which also took more than $40m, that's pretty damn impressive.
The CW has released the first look at Ruby Rose as Batwoman - and she looks like she is ready to slay the Arrowverse . Fans objected to Rose playing Batwoman , who will be openly gay in the crossover, despite the actress being lesbian.
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Confirmed deaths near 2000, still more likely in Indonesia
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