KARACHI: Pakistan’s fundamentals have ‘improved significantly’ but the ‘challenges’ still lie ahead, Credit Suisse- a Swiss financial services firm- says in its latest report. “In addition, real rates remain low implying limited pressure for rates to be reduced in the near term,” it said. In July last year, Pakistan agreed to IMF’s $6 billion worth EFF program to overcome its balance of payments crisis. Credit Suisse said the rupee had had become extremely overvalued, as measured by the REER prior to devaluations. Indeed, as we mentioned earlier, we see the potential for a further modest revaluation in the PKR,” Credit Suisse concluded in its report.

Source: Pakistan Today February 23, 2020 17:15 UTC