PKR, economic growth outlook to improve following IMF aid

News Image

By MG News | November 16, 2023 at 03:31 PM GMT+05:00

0:00

November 16, 2023 (MLN): The Pakistani rupee (PKR) outlook should improve following the International Monetary Fund’s preliminary approval for the release of the next loan tranche under the current $3 billion loan program, as Bloomberg reported.

Upon approval, Pakistan will have access to SDR 528 million, which is around $700 million.

The decision suggests that the country has made progress on IMF conditions such as fiscal consolidation and keeping the rupee flexible, Bloomberg added.

Before reaching the decision, the IMF is also likely to have secured assurances from other creditors that they will also lend money.

The positive news strengthened the rupee by about 0.3% versus yesterday's close.

The aid should also boost growth by financing the purchase of imports and helping industrial production.

As per Bloomberg, the GDP is expected to grow 2.3% in the current fiscal, up from 0.3% in fiscal 2023.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 133,356.09
120.17M
0.59%
779.10
ALLSHR 83,401.56
399.92M
0.50%
417.88
KSE30 40,502.72
18.18M
0.36%
143.93
KMI30 191,424.42
22.88M
0.37%
697.09
KMIALLSHR 55,953.77
196.66M
0.46%
255.30
BKTi 36,600.49
7.64M
0.99%
358.43
OGTi 28,172.32
2.54M
-0.53%
-151.10
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 111,665.00 112,170.00
111,395.00
-580.00
-0.52%
BRENT CRUDE 70.35 70.38
69.91
0.16
0.23%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.45
1.51%
ROTTERDAM COAL MONTHLY 108.00 109.00
107.95
0.90
0.84%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.50 68.52
68.04
0.12
0.18%
SUGAR #11 WORLD 16.54 16.61
16.08
0.41
2.54%

Chart of the Day


Latest News
July 10, 2025 at 11:09 AM GMT+05:00

Bitcoin soars to record above $112k, bulls now eye $150k


July 10, 2025 at 11:09 AM GMT+05:00

Pakistan invites Turkish firms to expand investment


July 10, 2025 at 11:09 AM GMT+05:00

Dollar slips, real plunges as Trump tariffs rattle Brazil


July 10, 2025 at 10:29 AM GMT+05:00

Trump plans steep 50% Tariff on Brazilian imports



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg