Latest news with #CentralAsiaDepartment
Business Recorder
25-04-2025
- Business
- Business Recorder
Trade tensions to affect Pakistan more in region: IMF
ISLAMABAD: 'Amid global tariff war, trade tensions will affect Pakistan maybe more than the average in the region.' This was stated by Jihad Azour, Director of Middle East and Central Asia Department, International Monetary Fund (IMF) during a press briefing on the Regional Economic Outlook for the Middle East and Central Asia. Replying to a question regarding impact of global tariff war on Pakistan, Azour said that of course trade tensions will affect Pakistan relatively maybe more than the average in the region. He further said that the impact on Pakistan directly can be offset by other measures that would allow the Pakistani economy to reposition itself in a world that is in the midst of one of the largest transformation in terms of trade, economic opportunities, and to reposition itself in order to address any risks, but also to potentially benefit from change in the trade routes. Policymakers are achieving the art of the impossible, IMF chief says He further said that a few countries have more exposure to the US trade like Pakistan or Jordan, and those are specific cases. In any change, there are opportunities, and over the last few years successive shocks and transformation on the geopolitical front were seen and the geo-economic front, and those have affected the region. The region stands at the crossroads between East and West, and therefore trade routes, connectivity, as well as also opportunities go through this region. This would require for countries in the region to seek new opportunities in terms of strengthening their economic relationships and trade ties with regions close to them, as well as within countries in the region, which will call for new way of increasing connectivity and cooperation in the region, he added. The IMF official further said that Pakistan made significant progress in restoring macroeconomic stability over the last 18 months and the numbers are, for Pakistan, showing improvement both in terms of growth as well as also in inflation that dropped from 12.6 percent last year in 2024 fiscal year to 6.5 percent this year, expected to stay at this level for next year. Debt is also stabilizing in the case of Pakistan, and recently Pakistan has been upgraded by rating agencies, Azour added. Copyright Business Recorder, 2025
Times of Oman
24-02-2025
- Business
- Times of Oman
Oman, Azerbaijan hold talks on political, economic and cultural fields
Baku: The Sultanate of Oman and the Republic of Azerbaijan on Monday held the 6th session of political consultations in Baku, Azerbaijan. The Omani side was headed by Sheikh Khalifa Ali Al Harthy, Undersecretary of the Foreign Ministry for Political Affairs, while the Azerbaijani side was headed by Yalchin Rafiyev,Deputy Foreign Minister of the Republic of Azerbaijan. During the session, the two sides reviewed areas of cooperation in the political, economic and cultural fields. They also underscored the importance of continuing efforts to boost bilateral exchange in tourism and trade spheres. Al Harthy expressed his appreciation to the Azerbaijani side for the opening of the embassy in Muscat, which will boost diplomatic relations between the two countries. Both sides exchanged views on regional and international issues of mutual interest. They underlined the importance of deescalation in the region and finding a comprehensive and just solution to the Palestinian cause. The Undersecretary also met withJeyhun Bayramov, Minister of Foreign Affairs of Azerbaijan. During this meeting, the two sides underscored the importance of enhancing bilateral relations. The session was attended by Sheikh Mohammed Hamiar Al Nabhani, Head of the Central Asia Department at the Foreign Ministry, Rashad Ismailov, Ambassador of Azerbaijan to Oman and several officials from both sides.
