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| India-Pakistan |
| Inflation shows no signs of weakening in Pakistan, stands at 27.4% |
| 2023-09-02 |
| [GEO.TV] The inflation rate stayed above target at 27.4% in August, data showed on Friday, as reforms set out as conditions for an International Monetary Fund (IMF) loan complicate the task of keeping price pressures and declines in its rupee currency in check. The South Asian nation is embarking on a tricky path to economic recovery under a caretaker government after a $3 billion loan programme, approved by the IMF in July, averted a sovereign debt default. Reforms linked to the bailout, including an easing of import restrictions and a demand that subsidies be removed, have already fuelled annual inflation, which rose to a record 38.0% in May. Interest rates have also risen, and the rupee hit all-time lows. Last month the currency fell 6.2%. The August data from Pakistain's statistics bureau showed a slight easing from July's 28.3% inflation rate, but food inflation remained elevated at 38.5%. Authorities also raised petrol and diesel prices to record highs on Friday. |
| Posted by:Fred |
| #2 IMF to the rescue = Money down a rat hole. |
| Posted by: Jerens Black9355 2023-09-02 10:15 |
| #1 Take that, Biden - we're #1! |
| Posted by: Raj 2023-09-02 00:25 |