Rupee under pressure over IMF payments
- By editorial -
- Nov 30, 2013
Islamabad: Pakistan will pay three installments of loan to IMF next month, ARY News reported.
After the payment of installments next month further reduction in the value of Pakistani rupee is expected.
According to the Ministry of Finance, Pakistan will pay these installments next month on 17, 27 and 31st December.
On 25th of November, Pakistan has already paid the 24thinstallment under Standby Arrangement Program to IMF worth 396 million dollars.
In the current fiscal year Pakistan and other institutions have to pay off the loan installments of 6 billion and 250 million dollars to IMF.
According to currency market dealers, due to the installments paid to IMF the Pakistani rupee is under pressure and in the next month further reduction in the value of rupee is expected.