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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
Romaine Bostick breaks down the day's top stories and trading action leading into the close.
Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek".
Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more.
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The country should take a cue from rival India and use its crisis as an opportunity to address the economy’s fundamental flaws.
Prices rose a record 38% in May.
Photographer: Asif Hassan/AFP/Getty Images
Pakistan is up against yet another deadline. Unless access is restored to a $6.7 billion bailout from the International Monetary Fund before it expires on June 30, the country’s deeply stressed economy will go into freefall. Pakistan’s chronic shortage of foreign exchange is now, in the absence of IMF funding, reaching emergency levels. The central bank’s reserves would cover only about a month of imports.
Pakistan’s great rival India, when faced with a similar crisis more than 30 years ago, pushed through sweeping reforms that devalued the rupee, reduced the size of the public sector, and raised government revenue. It’s time for Pakistan to do the same.

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