U.S.-Funded IMF Agrees to Give Pakistan $3 Billion Bailout

The International Monetary Fund (IMF), an international organization heavily funded by the United States, on Friday reached an agreement with Pakistan to provide $3 billion in short-term financial aid. The Pakistani bond market perked up at news that a potential debt default crisis has been delayed, but not enough to suggest that investors see a bright future for Pakistan’s finances.

Men collect free bread from a distribution point in Peshawar on April 3, 2023. - Poor Paki

India’s SVC Bank Reassures Depositors It Has Nothing to Do with Collapsing SVB Bank

India’s small SVC Co-Operative Bank spent the weekend scrambling to reassure depositors it has no connections whatsoever to the imploding Silicon Valley Bank (SVB) of California. In addition to some confusion over their similar names, SVC executives said “social media rumors” have been spreading that linked the two banks together and claimed SVC is also trembling on the verge of collapse.