Pakistan Remittances: Pakistan’s New Headache – Slow Remittance Flows

Yawning Current Account Deficit (CAD) — the difference between inflows and outflows of foreign currency, Pakistan Received low dispatch in May. This will create new concerns for the Prime Minister of Pakistan Shahbaz Sharif And his team has demanded an immediate relief package from Islamabad. International Monetary Fund (IMF). The IMF has already asked Pakistan to control its rising CAD, which is under pressure due to spurt in commodity prices, including oil. Data from Pakistan (SBP) shows that remittances in May stood at $2.3 billion compared to $2.5 billion in…