Pakistan says to get $3.4 billion in budgetary aid from ADB

ISLAMABAD. Pakistan will receive $3.4 billion (Dh12.47 billion) in budgetary support from the Asian Development Bank (ABD), the de facto finance minister said on Saturday, as the government seeks help to overcome a ballooning balance of payments crisis. Last month, Pakistan reached an accord in principle with the International Monetary Fund (IMF) for a three-year, […]

Africa uses forex weakness to its advantage

Dubai: Despite the investments they have been attracting, African countries still have not managed to solve one issue — a woeful lack of hard cash. But there are some who see this situation as offering opportunities if handled well. “Despite the challenges posed by foreign exchange (FX) shortages, currency volatility and rising debt levels, a […]