Summary Approval of the 8th installment of IMF's loan to Pakistan is expected to be given on September 28
KARACHI: (Dunya News) – Inflation is expected to rise nominally in Pakistan in near future according to International Monetary Fund (IMF). The approval of the 8th installment of IMF’s loan to Pakistan is expected to be given on September 28, reported Dunya News.
Talking to Dunya News, IMF’s representative told that IMF’s board meeting is scheduled to be held on September 28 in Washington where the approval for the 8th installment of IMF’s loan to Pakistan is expected to be given. According to the IMF’s program for the financial stability, Pakistan was going to be given loans worth US dollars 6 billion in 3 years, out of which over 4 billion dollars have already been paid.
On a question over lowering of interest rate by State Bank, the IMF representative said that inflation has dropped in Pakistan while the economy has stabilized which led to lowering of interest rate but inflation is expected to rise nominally in view of the strengthening commodity prices in the international market.
On the other hand, Pakistan’s exports were affected by the stable price of US dollar in the country but the rise in dollar price is welcome for the exports.
