Skip to main content

Pakistan raises rates by 300bp as default risks rise

Authorities struggle to collect taxes and unlock IMF funds

state-bank-of-pakistan-sbp

The State Bank of Pakistan hiked its policy rate by 300 basis points on March 2, to 20%. This was the largest of nine increases since September 2021, totalling 1,300bp.

The SBP’s monetary policy committee moved as the country continues to grapple with spiralling inflation, a wilting currency and a real risk of default. Pakistan has struggled to meet IMF conditions to unlock funding from a 2019 loan package.

Year-on-year headline inflation rose to 31.5% in February, from 27.6% in January. The

Solo los usuarios que tengan una suscripción de pago o formen parte de una suscripción corporativa pueden imprimir o copiar contenido.

Para acceder a estas opciones, junto con todas las demás ventajas de la suscripción, póngase en contacto con info@centralbanking.com o consulte nuestras opciones de suscripción aquí: subscriptions.centralbanking.com/subscribe

Actualmente no puede copiar este contenido. Póngase en contacto con info@centralbanking.com para obtener más información.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Regístrese en Central Banking

Todos los campos son obligatorios, salvo que se indique lo contrario.

Mostrar contraseña
Ocultar contraseña

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Iniciar sesión
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.