Pakistan Claims Lower Inflation- Maintains Interest Rate
The State Bank of Pakistan Saturday announced a cautious monetary policy, maintaining the interest rate to the current level of 12.5 percent because of concerns about remaining inflation pressures, the fiscal slippage in the second quarter, and the availability of external financing. Addressing a press conference State Bank of Pakistan Governor Salim Raza said inflation [...]
Pakistan Stops Financing Crude Oil Imports
As of yesterday State Bank of Pakistan will not sell foreign exchange to banks for financing the crude oil imports. SBP had given banks a full working week to get prepared for securing funding from the international market.
Pakistan To Swap Currency With China
Pakistan’s Ministry of Finance has already asked the State Bank to work out a strategy in consultation with the central bank of China for a currency swap arrangement.
Ibrahim Sajid Malick is a Pakistani-American writer, technologist, and social entrepreneur. He has been writing on Pakistani society and politics since 1986. He has held several media, communications, and technology positions for organizations large and small. Mr. Malick graduated from New School for Social Research with a master’s degree in anthropology. He holds several technology and management certifications. He works for a leading technology firm and blogs at www.ibrahimsajidmalick.com