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Pakistan secures IMF staff-level accord, aims for economic growth

Pakistan secures IMF staff-level accord, aims for economic growth

ISLAMABAD – Pakistan’s economic landscape is showing signs of recovery as Minister Shamshad Akhtar announced a staff-level agreement with the International Monetary Fund (IMF), signaling a positive shift following comprehensive stabilization measures. The country has been grappling with macroeconomic instability due to a combination of delayed reforms, political disruptions, and external pressures such as rising…

Pakistan finance minister calls for urgent debt management reforms

Pakistan finance minister calls for urgent debt management reforms

ISLAMABAD – Pakistan’s Finance Minister Dr. Shamshad Akhtar highlighted the critical need for comprehensive fiscal reforms at an Islamabad event today, stressing that managing the country’s unsustainable debt levels should top the national reform agenda. Speaking at a Sustainable Development Policy Institute gathering, Akhtar detailed the challenges posed by high servicing costs, which have consumed…

US chip export ban is hurting China’s AI startups, not so much the giants yet

US chip export ban is hurting China’s AI startups, not so much the giants yet

Well before Washington banned Nvidia’s exports of high-performance graphic processing units to China, the country’s tech giants had been hoarding them in anticipation of an escalating tech war between the two nations. Baidu, one of the tech firms building China’s counterparts to OpenAI, has secured enough AI chips to keep training its ChatGPT equivalent Ernie…