Monday, August 15, 2022

Due to the ongoing program with the IMF, the need for external financing has been met: Murtaza Syed

Acting Governor State Bank Dr. Murtaza Syed has said that due to the ongoing program with the IMF, our need for external financing for the next 12 months has been met. It will play an important role in removing them from the list of weak countries while most of the countries are not supported by the IMF.

According to media reports, he says that Pakistan’s debt situation, which is an important point for the markets, is much better than other weak countries with debts, Pakistan’s external debt is less. Comparing it to the recently bankrupt Sri Lanka, he said that as external pressure came, Pakistan tightened monetary policy and allowed the rupee to depreciate.

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