Middle East & Central Asia News
LAST UPDATE: July 25, 2025
Pakistan spy agency targets black market dollar trade to curb rupee slide
Pakistan’s ISI intelligence agency intervened in the black market dollar trade by meeting exchange firms, resulting in a one‑rupee appreciation of the rupee. This marks the second such military‑led intervention in two years (Reuters).
Insight
Reliance on security forces to stabilize currency points to acute FX stress. While effective short-term, such non-market methods raise questions over financial transparency and longer‑term sustainability.
National Bank of Georgia Has Not Made Any Financial Transfers to the Gov’t – NBG
The National Bank of Georgia issued a statement emphasizing that it has not made any discretionary financial transfers to the government, reaffirming its independence. The IMF has recommended legislative reforms to prohibit such transfers.
Insight
Reinforcing institutional independence aligns with IMF governance standards. The NBG’s statement helps build credibility and investor confidence by clarifying it does not fund fiscal operations.
Morocco to spend $4.2 billion to expand airports ahead of World Cup
Morocco plans to invest 38 billion dirhams (~$4.2 billion) over five years to upgrade airports in preparation for co-hosting the 2030 FIFA World Cup. Annual capacity is projected to grow from 38 million to 80 million passengers by 2030.
Insight
This major infrastructure initiative reflects strategic investment in tourism and logistics, with long‑term economic and connectivity benefits beyond the World Cup itself.
