South Asia’s balance sheets
How reserves, debt, taxes and remittances shape economic choices across South Asia.
16 Dec 2025
Pakistan’s stronger reserves still need a test against payments coming due
The December IMF reviews unlocked roughly $1.2 billion. The durability of Pakistan’s recovery depends on how much foreign exchange it can generate and retain after meeting its obligations.
7 Jan 2026
Sri Lanka’s cyclone recovery needs three different financing plans
The World Bank’s damage estimate and IMF’s emergency financing measure different things. Recovery depends on matching immediate relief, restoration and long-term rebuilding to the right funding.
10 Feb 2026
Bangladesh needs to recognise bank losses before deciding who pays
The IMF’s January assessment links banking weakness to weak tax revenues and inflation. A credible repair starts with identifying losses, protecting deposits and setting clear terms for public support.
19 May 2026
Pakistan’s power reform should be judged by the arrears it prevents
The IMF’s latest review separates changes in the stock of electricity-sector debt from the flow of new arrears. That distinction matters for prices, reliability and the budget.
17 Jun 2026
Nepal’s remittance windfall gives it room to invest and a risk to manage
Remittances are supporting reserves even as the economy slows. Nepal’s opportunity is to finance more productive investment while managing exposure to jobs and wages abroad.
28 Sep 2026
Sri Lanka’s recovery needs a test of how reliably it earns foreign exchange
Growth and reserves have improved, while tourism earnings and imported fuel costs can move in the other direction. Recovery and external resilience deserve separate measures.
27 Oct 2026
The Maldives has cleared a major maturity. The next test is recurring dollar income.
Repaying a $500 million sukuk improved the immediate sovereign financing picture. Tourism earnings, foreign exchange available to firms and future public debt payments still need separate tests.