Pakistan’s statistical office data showed consumer prices (inflation) rose by 37.97% in May, compared to the same month last year.
The inflation rate had initially risen above the 20% level since June last year, driven in part by the government’s move to raise taxes and energy prices, in an effort to revive a stalled $6.7 billion IMF rescue package.
Saudi Arabia pledged $2 billion to support Pakistan’s financing is one of the last conditions of an agreement with the IMF that Islamabad needs to avoid debt default.
The IMF had asked Pakistan for guarantees of external financing from friendly countries and multilateral partners to fund the balance-of-payments gap for this fiscal year ending in June.
GOOGL 
AMZN 
MET 
T 
WPM 
DM 
SVM 
CMC 
HKDUSD=X 
BABA 