Pakistan's central bank on Thursday raised its main policy rate by 125 basis points to 15 per cent in its effort to cool the economy, just days after data showed that inflation hit a 13-year high last month. Pakistan's inflation surged to 21.3 per cent in June, its highest since 2008, data released last week showed. The central bank has raised its key interest rate by 525
New Delhi: The steep escalation in the import bill has resulted in Pakistan losing 50 per cent of its foreign exchange reserves in the last few months.
While Pakistan s miserable economic condition was shrouded by the political upheaval in the country over the past few months, the newly-elected Shehbaz Sharif government is now staring at an economic catastrophe not seen for decades, said a media report.
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