Rupee extends losses on IMF’s ninth review limbo

An IMF review for the release of the next tranche under bailout funding has been pending since September.

Federal Minister for Finance and Revenue Ishaq Dar claimed last week that Pakistan met all targets for the review. However, the IMF resident chief said discussions with the Pakistani “authorities in these areas are ongoing, especially as not all end-September quantitative targets have been met”.

The local currency also remained under pressure as demand from importers seeking to pay their bills increased.

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