Revival of SME credit

Between July and August, things are brought to almost a halt across much of Europe. Italy shuts down for Ferragosto, the French vanish on les grandes vacances, and the German offices empty out. During this window, everything — deadlines, emails, occasional sovereign crisis — can wait. For Pakistani economy nerds, late summer means something completely different, though no less exciting if you are warped enough. It’s because by this time, the data for fiscal year-end starts being released, giving...