Pakistan starting to recover from imbalances – SBP
Central bank hikes policy rate while highlighting some signs of improvement in the external balance
Pakistan is starting to recover from a balance of payments crisis that gripped the economy in 2018, the country’s central bank said on March 29.
At the meeting of the State Bank of Pakistan’s monetary policy committee (MPC), officials chose to raise the policy rate 50 basis points to 10.75%, citing inflationary pressures, an “elevated” fiscal deficit and a “high”, albeit improving, current account deficit.
In October 2018, Pakistan finally turned to the International Monetary Fund for aid amid
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