A family in Rawalpindi. Ending debt payments would give Pakistan time to develop new sources of revenue.
Reposted from The Guardian
by Nick Dearden
With an economy paralyzed by IMF interference, Pakistan could reassert its independence by halting debt repayments.
No matter which government Pakistan’s people had voted for last week, the debt payments the country is scheduled to make in the next two years will largely decide that government’s economic policy. That is, unless the government decides to put its people ahead of those repayments. Given the scale of problems Pakistan faces, is it possible that a sovereign economic agenda could find its way on to the table?
Reposted from GoJamaica.com
Finance Minister Dr Peter Phillips says a World Bank mission is expected in Jamaica in May to continue work on the new Country Partnership Strategy.
The initiative will provide support for the Government’s efforts to increase economic growth, create jobs and fight poverty.
Speaking with the Jamaica Information Service in Washington, Phillip said consultations have already started on a new programme for Jamaica, which will be launched later this year. More…
Reposted from The Himalayan Times
A slower growth rate of Nepal’s major trade partner India has affected the Nepali economy.
KATHMANDU: The International Monetary Fund (IMF) has projected three per cent growth rate for Nepal in 2013 — the lowest in the last one decade.
International Monetary Fund is the third agency that has predicted a gloomy outlook for the Nepali economy in the current fiscal year. More…
Reposted from The Phnom Penh Post
China’s transition from export-led to domestic-led growth, combined with the rising costs of production, could provide opportunities for Cambodian growth and diversity, analysts say.
Faisal Ahmed, the IMF representative for Cambodia, said the Kingdom was already experiencing an increase in trade activity as a result of China’s economic shift.
“China’s rebalancing can boost demand of Cambodian exports of not only commodities but also labour-intensive manufacturing, in part supported by rising wages in China,” Ahmed said. More…
Reposted from Eleven Myanmar
Myanmar’s foreign exchange rate remained stable in the last three months of the year, after the government introduced reforms in April and ended 35 years of a fixed rate.
As a result, businessmen have expressed more confidence in the trading and investment sectors.
In April, the exchange rate was 815 kyats to a US dollar; it increased to 837 kyats in May and 844 kyats in June. More…
Reposted from Eleven Myanmar
Myanmar is likely to become next financial hub for Asia, according to a statement issued by International Monetary Fund (IMF) by the end of November.
“With a commitment to strong reforms, Myanmar has the potential to vastly improve the living standards of its people and emerge as Asia’s next rising star,” IMF mission chief in Myanmar Meral Karasulu said in a statement. More…
Reposted from The Myanmar Times
By Tim McLaughlin
The IMF is hopeful that the trip will lead to the formation of a Staff-Monitored Program in 2013
The International Monetary Fund has found that Myanmar’s growth in the coming year will be bolstered by the continuation of the nation’s rapid reforms. More…
Reposted from The UB Post
By B. Khash-Erdene
The current Mongolian Double Tax Agreement (DTA), which is a tax claim by two or more jurisdictions on the same income, is prone to international tax planning as it allows residents of other countries to substantially reduce the amount of tax they pay in Mongolia, said International Monetary Fund (IMF)’s report released on November 14. More…
Reposted from EINNews
The International Monetary Fund could possibly monitor progress on the government’s own reform plans
MYANMAR (Burma) could become Asia’s next economic engine if it enacts vast reforms, the IMF says, signalling the country could receive a Fund monitoring program in 2013. More…
Reposted from Bloomberg Businessweek
Naidansuren Zoljargal, governor of the Central Bank of Mongolia
By Rishaad Salamat and Yuriy Humber
Mongolia’s central bank governor said that the nation’s growth rate may slow by a third this year from a record 17 percent in 2011 as inflows of foreign investment cool. More…