Publish button
Download
Login to download. Need an ID and password? Register now!
BUSINESS: Pakistan foreign loans infographic
Responsive button
Adapt

Pakistan dependent on foreign loans

02/06/2019
Graphic News

February 6, 2019 -- China, Saudi Arabia and the United Arab Emirates are providing billions of dollars in financial support to Pakistan as the country burns through its foreign currency reserves at the fastest pace in Asia. Saudi Crown Prince Mohammed bin Salman will visit Pakistan from February 14-18.

Since the election of Prime Minister Imran Khan in July, the State Bank of Pakistan has received some $13.5 billion in loans or pledges from its allies. Premier Khan has been reluctant to ask the International Monetary Fund (IMF) for help again -- in 2013 Islamabad was loaned $6.7 billion by the IMF. However, the IMF has confirmed that Pakistan has asked for an emergency bailout of $8 billion to cover sovereign debt payments.

Both Fitch Ratings and Standard & Poor’s -- two of the three major global rating agencies -- have downgraded Pakistan’s long-term debt rating to “B-Negative.” The downgrade indicates a higher credit risk; therefore, it is likely to push up interest rates required from government and corporate bodies when they go to the international markets to raise borrowing.


NEW GRAPHIC NEWS - a new website for a new era, coming soon…

And it will be worth the wait! The Graphic News website is undergoing a complete redesign. The new site will not only see improvements in terms of speed and user experience, but will also include many new features. For example, existing subscribers will be able to manage their accounts online via a group dashboard, and add selected graphics to lists for project planning (and which can be shared across the group).

Existing users will need to register individually - we’ll be sending instructions to our main contacts at each group and will be on hand to help you through the process, which we hope will be seamless!


If you don’t already have an account but are interested in the service, just click on the button below and we’ll get back to you within 24 hours.


Further information to follow over the coming weeks. Any questions, please contact us at helpdesk @ graphicnews.com



Cookies