Trade of Asia

Constructive discussions with the IMF: PKR expects a robust rebound.

Pakistan, Karachi –The positive outcome of the constructive negotiations with the International Monetary Fund (IMF) has resulted in the Pakistani Rupee (PKR) appreciating by 85 paisas versus the US Dollar (USD) in intraday trading on Monday in the interbank market.

The dollar was quoted at 186.90, up from 186.75 at the previous closing.

After pleasant talks in Washington with the team led by Finance Minister Miftah Ismail, the IMF mission will return to Pakistan in May to start talks about how to finish the 7th Extended Fund Facility (EFF) review.

“We agreed that immediate action is necessary to rectify the unfunded subsidies that have hindered the 7th Review negotiations,” Mr. Nathan Porter, IMF Mission Chief for Pakistan, noted in a news statement.

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