Due to IMF pressure, interest rates likely to increase by another 2%
Officials of International Financial Institution say there is scope for another 2% increase in inflation-adjusted interest rates in Pakistan
Federal government appeared more helpless in front of the IMF, the monetary policy committee meeting of the State Bank on April 4 is expected to increase the interest rate by another 2 percent.
The IMF’s successive terms have baffled the government of Pakistan and even the most expert finance minister of PML-N and its allies, Ishaq Dar, is not getting along with the IMF.
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Now the IMF has indirectly demanded another 2% increase in the interest rate. The IMF believes that interest rates in Pakistan are low relative to inflation and Pakistan needs savings instead of spending.
In this regard, a meeting of the State Bank’s Monetary Policy Committee is to be held on April 4, in which the IMF is under pressure that there is room for the interest rate to increase by 2 percent in line with inflation.