Swiss economy predicted to grow 3% by end of year

Finance Minister Asad Minister briefed Prime Minister Imran Khan on the potential bailout package

Finance Minister Asad Minister briefed Prime Minister Imran Khan on the potential bailout package

It also predicted that unemployment here will fall to 5.3% by the end of this year and 5.1% next year.

"Going to the International Monetary Fund is a positive trigger because it will remove the underlying causes for concern, which is that government targets will further weaken", said Suleman Maniya, head of research at local brokerage house Shajar Capital.

Finance Minister Asad Umar left for Indonesia on Monday night to participate in the annual meetings of the International Monetary Fund and World Bank at Bali, scheduled to run until October 12, and formally request a bailout programme, reports Dawn news.

"If you compare [OTHER CURRENCIES] to the renminbi, there is a bit of depreciation, but certainly not that much".

'Strong growth over the summer is likely to reassure policymakers that the recent interest rate rise was warranted, but they'll be hoping to see the momentum maintained as Brexit approaches. "I will take (the country) out of this", he said.

Further moves towards a trade war could "significantly harm global growth".

The yuan has fallen 10.5 per cent against the United States dollar since its recent high in early February.

Figures from the Central Bank of Nigeria website revealed that gross foreign reserves level dropped from $45.3 billion on September 10, 2018, to $43.6 billion on October 8. "Any sharp reversal for emerging markets would pose a significant threat to advanced economies", he added.

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A U.S. Treasury official on Monday repeated that the Trump administration was concerned about the yuan's recent weakening as the department prepares a semi-annual report on currency manipulation due out next week.

"We need to join hands to fix the current trade system, not destroy it", she added.

It's not just the world's two most powerful economies that stand to be affected by trade policy.

In August, with the yuan sliding rapidly because of rising trade tensions, China's central bank reintroduced the use of a "countercyclical factor" in the calculation of the yuan's daily trading range.

The Ministry of Finance and State Bank of Pakistan has not taken any measure to control the rupee depreciation and allowed the market to set the currency value. The world body said that in these circumstances, government intervention in the foreign exchange market should be "limited to addressing disorderly market conditions".

"All the accusations against China are completely trumped up". He said the previous PML-N government had started its term in 2013 with a $3 billion current account deficit, but his government inherited $18 billion current account deficit.

IMF's forecasts for Hong Kong's economic outlook are mixed: it raises its forecast for 2018 by 0.2 percentage points to 3.8%, while cutting its forecast for 2019 by 0.3 percentage points to 2.9%.

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