Pakistan Expects to Avoid Rupee Devaluation in IMF Negotiations [Yahoo! Finance]
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Source: Yahoo! Finance
Monetary Fund to unlock billions of dollars in lending and bolster the nation's economic reform agenda. Most Read from Bloomberg Dubai Grinds to Standstill as Cloud Seeding Worsens Flooding Red Lobster Considers Bankruptcy to Deal With Leases and Labor Costs Tesla Asks Investors to Approve Musk's $56 Billion Pay Again Elon Wants His Money Back Singapore Loses ‘World's Best Airport' Crown to Qatar Finance Minister Muhammad Aurangzeb said there'd be no reason for the rupee to depreciate more than the range of about 6% to 8% seen in a typical year. Pakistan last devalued its currency in January 2023. While massive devaluations have accompanied some of Pakistan's previous IMF loans and are often a condition of the crisis lender's programs around the world, nothing comparable should be necessary this time around, he added in an interview on the sidelines of the IMF and World Bank spring meetings in Washington. “I don't see the need for any step change,” Aurangzeb said Wed
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