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Balance Of Payments

All articles tagged with #balance of payments

economy2 years ago

Russia's Rouble Plunges to 15-Month Low Amidst Economic Turmoil

The Russian rouble has fallen past 89 against the dollar, reaching its weakest point in over 15 months, due to concerns over domestic political risk following an aborted armed mutiny and a lack of support drivers. The rouble also weakened against the euro and yuan, hitting 15-month lows. The currency's decline is attributed to reduced export revenues and the balance of payments, according to the Bank of Russia. While the rouble's depreciation carries no risks to financial stability, its impact on inflation dynamics will be considered at the next board meeting on the key rate.

via Reuters.com|
#balance-of-payments#currency-depreciation#economy
finance2 years ago

UAE's $1 Billion Pledge Brings Pakistan Closer to IMF Deal

The United Arab Emirates has pledged $1 billion in financial support to Pakistan, removing a key hurdle to securing a much-awaited bailout tranche from the International Monetary Fund (IMF). The commitment is one of the IMF's last requirements before approving a staff-level pact to release a tranche of $1.1 billion, delayed for months, that is crucial for Pakistan to resolve an acute balance of payments crisis. The pledge makes the UAE the third country, after Saudi Arabia and longtime ally China, to come to Pakistan's assistance, as external financing is needed to fully fund the balance of payments gap for the fiscal year that ends in June.

via Reuters.com|
#balance-of-payments#finance#financing
finance2 years ago

China extends $2 billion loan to struggling Pakistan.

China has rolled over a $2 billion loan to Pakistan, which had matured last week, providing relief during the South Asian nation's acute balance of payment crisis. Pakistan's reserves have dipped to just four weeks' worth of imports and talks over an International Monetary Fund bailout tranche of $1.1 billion have hit a stalemate. One of the IMF's conditions for the release of the next tranche is assurance of external financing to fund Pakistan's balance of payments.

via Reuters|
#balance-of-payments#china#finance