A European Union official visiting Lebanon said Friday that the international body will increase its humanitarian assistance to the crisis-struck country, but that more significant long-term aid depends on reforms and a deal with the International Monetary Fund.
The central bank of Pakistan has also raise the interest rate by 300 basis points to 20% in the first week of March this year to control the inflationary pressure.
Crisis-hit Pakistan has made various economic modifications including hikes in fuel prices, raising taxes, and others demanded by IMF to unlock the loan program.
The International Monetary Fund (IMF) is refusing to release the USD 1.1 billion tranche under the USD 7 billion loan facility unless crucial decisions are made by the government and implemented.