Pakistan’s request to reduce the 18 percent GST on condoms and other contraceptives has been rejected by the International Monetary Fund, leaving the government unable to make birth-control products cheaper in a period of rising population and financial pressure. Prime Minister Shehbaz Sharif had asked the Federal Board of Revenue to approach the IMF for immediate approval to remove the tax, but the lender made it clear that such changes cannot be made mid-year and may only be considered du

Ukraine has suffered a major naval setback after its largest reconnaissance ship, the Simferopol, was sunk in what Russia claims to be its first successful sea drone attack. The Russian Defence Ministry announced that the Laguna-class ship, designed for advanced electronic, radar, radio, and optical reconnaissance, was struck in the delta of the River Danube, which partially lies in Ukraine’s Odessa Region. Reports from Russian state media described the

​The sister of a victim from the Air India AI-171 crash in Ahmedabad has demanded complete transparency in the investigation into the tragic incident that occurred on June 12. Trupti Soni, whose sibling lost their life in the crash, has expressed frustration over what she describes as the release of selective data by authorities without any proper context, claiming that such partial disclosures raise more questions than they answer. She is now preparing to ta

US Senator Lindsey Graham, a close ally of President Donald Trump, has issued a direct warning to India, China, and Brazil over their continued purchase of oil from Russia, suggesting that these nations could face severe economic consequences. Speaking during a live interview on Fox News, Graham revealed that the Trump administration plans to impose a 100% tariff on oil imports from countries that maintain trade relations with Russia. This bold statement comes

Gita Gopinath, the renowned Indian-born economist and current First Deputy Managing Director at the International Monetary Fund (IMF), is set to leave her position at the IMF at the end of August. She will return to Harvard University to take up the prestigious role of the inaugural Gregory and Ania Coffey Professor of Economics in Harvard's Department of Economics. This move marks a new chapter in Gopinath's illustrious career, one that began at the I

Former National Security Advisor Shivshankar Menon emphasized that India should not expect the world to align its foreign policy with New Delhi’s concerns on Pakistan, especially regarding terrorism and international funding. Speaking to India Today, Menon said diplomacy has limits and it’s unrealistic to task diplomats with changing how other countries behave since they act according to their own interests.

Pakistan has announced a significant 20% hike in its defence budget for the fiscal year 2025–26, marking the steepest increase in decades. This decision comes at a time when the country is struggling with a massive external debt of $274 billion and shrinking foreign reserves. Despite cutting its overall budget by nearly 7%, the government has allocated PKR 2.55 trillion approximately 14.5% of its total annual budget to the military. This reflects Pakista

In a landmark economic achievement, India has officially become the world’s 4th largest economy, overtaking Japan, according to recent data shared by government officials and confirmed by the International Monetary Fund (IMF). The development comes just days after Prime Minister Narendra Modi reaffirmed India’s ambitious goal of becoming a $5 trillion economy by 2025. Union Minister Jitendra Singh announced the milestone on social media platform X, stati

The recent India-Pakistan conflict, ignited by the launch of Operation Sindoor, has laid bare a new global military trend the era of “Do It Yourself” wars. While intense fighting and strategic strikes marked India’s response to terror aggression, what stood out even more was the silence or indifference of global power centers. Traditionally known for swift mediation or condemnation during Indo-Pak escalations, nations like the United States chose an ambiguous and largely pas

Finance Minister Nirmala Sitharaman has embarked on a significant 11-day official tour to the United States and Peru to deepen India's role in global economic policy, strengthen bilateral relationships, and lead India’s presence at key multilateral forums. Her visit, taking place during a time of growing international economic uncertainty, aims to project India’s strategic interests in trade, finance, and development partnerships. Beginning in San Francisco, Sithar

The International Monetary Fund (IMF) has advised Kenya to prioritize developing a predictable and robust regulatory framework for its cryptocurrency sector. In response to requests from Kenya's Capital Markets Authority (CMA) for input on future crypto regulations, the IMF conducted a detailed review of Kenya's crypto landscape. A 43-page Technical Assistance Report released on January 8 outlines the key steps needed to enhance regulation, ensuring the safety of participants and comp

Sri Lanka has committed to completing its foreign debt restructuring by the end of December 2023, aiming to address its $46 billion external debt. After defaulting on debt in April 2022, the country has been working on rebuilding its finances with help from an IMF bailout. Deputy Minister Anil Jayantha Fernando confirmed that debt restructuring, which has been delayed for over two years, is critical for the country's economic recovery. The restructuring includes international sovereign bo

On Thursday, Pakistan's government announced that it would need to endure "transitional pain" following the International Monetary Fund's (IMF) approval of a new $7 billion relief package aimed at stabilizing its faltering economy. While the nation's economy has shown signs of stabilization since narrowly avoiding default last summer, it remains heavily reliant on IMF bailouts and support from friendly countries to manage its substantial debt, which consumes nearly half