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economic outlook

Euro slides as ECB warns on economic outlook

LONDON: The euro slipped on Thursday after the ECB trimmed its growth forecast for the eurozone because of "mounting uncertainties" from within and outside the region. European Central Bank chief Mario Draghi said risks facing the area were now "moving to the downside", although that did not stop the bank from pulling the plug on its massive emergency crisis-fighting economic stimulus known as quantitative easing (QE). "While Mario Draghi was boxed in by previous announcements about QE, his press conference revealed…

Pakistan refutes IMF report on ‘deteriorating economy’

ISLAMABAD: The International Monetary Fund released a report this week indicating risks Pakistan’s economic and financial outlook is facing, but the country has refuted the IMF assessment. The IMF report was refuted by Miftah Ismail, an adviser to Prime Minister Shahid Khaqan Abbasi on Finance, Revenue and Economic Affairs, according to Bloomberg. The adviser says plans to issue dollar bonds or Chinese-currency bonds haven’t been finalized The IMF in a statement said the Pakistan’s economy faces continual “erosion”…

IMF says Pakistan outlook ‘favourable’, warns of risks

WASHINGTON: The International Monetary Fund (IMF) said the outlook for Pakistan's economy was "favourable", citing Chinese infrastructure investments among reasons for growth, but warned of risks to recent progress. Confidence in Pakistan is growing, with the IMF saying last year that the country had emerged from crisis and stabilised its economy after completing a bailout programme. However the IMF warned in a report on Friday that macroeconomic stability gains have started to erode and could pose risks to the…