KARACHI: An International Monetary Fund (IMF) representative in Pakistan said inflation was expected to rise nominally in Pakistan in near future after 8th installment of loan to the country.
‘Approval of the 8th installment of IMF’s loan is expected to be given before October this year,’ he said while talking to a local news channel.
The IMF’s representative said that IMF’s board meeting was scheduled to be held on Sept 28 in Washington where the approval for the installment is expected.
According to the IMF’s program for the financial stability, Pakistan will be given loans worth $6 billion in 3 years, out of which over $4 b dollars have already been given to the country.
On a question over lowering of interest rate by State Bank, the IMF representative said that inflation has dropped in Pakistan while the economy has stabilised which led to lowering of interest rate but inflation is expected to rise nominally in view of the strengthening commodity prices in the international market.
