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Only ECB has power to ‘scare’ global stock markets, warns IMF
The International Monetary Fund has warned that the immense firepower of the European Central Bank (ECB) would be needed to “scare” the financial markets and prevent an intensification of the turmoil threatening to send the global economy back into recession. With investors poised to give their verdict on the weekend talks in Washington of finance ministers and…
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Pakistan Stops Financing Crude Oil Imports
As of yesterday State Bank of Pakistan will not sell foreign exchange to banks for financing the crude oil imports. SBP had given banks a full working week to get prepared for securing funding from the international market. The present measure has been adopted in the wake of Pakistan rupee losing 53 paisa or 0.6 per…