The SBP will convene a meeting of the Monetary Policy Committee on April 4 ahead of schedule. Photo: File
Karachi: Interest rates on IMF loans are likely to increase by 2 percent.
The IMF is still not satisfied with Pakistan’s previous steps, the State Bank has decided to increase the interest rate by 2% as it had demanded to increase it to 4% but Pakistan refused to increase it once.
Also read: Interest rates rose three percent, to a record high of 20 percent
The SBP will now convene the Monetary Policy Committee meeting ahead of schedule on April 4, in which interest rates are likely to rise by 2 percent to revive the loan program.
It should be noted that the staff level agreement with the international organization was to be done on February 9.
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