Monday, December 5, 2022
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The SBP appears to be upbeat about the IMF negotiations

To combat inflationary pressures and ensure long-term growth, the MPC decided to raise the policy rate by 100 basis points to 9.75 percent. The SBP is upbeat about the current negotiations with the IMF, which are expected to end in January 2022 with a positive conclusion.

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International lenders have pledged to completely pay the current account deficit, including bilateral, multilateral, FDI, Sukuk, and government creditors, while the Chinese have rolled over a USD4.0 billion SAFE deposit.

The SBP anticipates a drop in commodity prices in the next months, since future pricing indicate a downward trend on the new Covid variant, and most central banks are increasing interest rates to combat rising inflation.

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