Inflation in Pakistan hits record with 35 percent
In Pakistan, which is struggling with the economic crisis, the acceleration in inflation does not slow down.
In March, consumer prices in the country increased by 35.37 percent compared to the same period of the previous year. Thus, the highest increase in the data set since the 1970s was recorded. In February, annual inflation in the country was 31.5 percent.
According to official data, monthly inflation was 3.72 percent in March.
The main factors causing the rise in inflation in the country were the rise in electricity prices with the increase in food and edible oil group.
At the table with the IMF
Pakistan, whose Central Bank reserves fell to 3.7 billion dollars, continues negotiations with the International Monetary Fund (IMF) for the release of a 1.17 billion dollar loan in order to avert the economic crisis.
Pakistan has agreed with the IMF for an economic rescue package of $ 6 billion, which is planned to be paid in 39 months in 2019.
In July 2022, it was discussed again and the IMF announced that the total loan amount was increased from 6 billion dollars to 7 billion dollars.
Under the agreement reached, the IMF stated that it would release a $1.17 billion loan to Pakistan if the conditions were met.