Pakistan boosts benchmark interest rate

(MenaFn) Pakistan planned to support the country's economy by boosting benchmark interest rate for the first time in three years, according to The Peninsula Qatar. The International Monetary Fund agreed on a USD6.6 billion loan last week to improve the country's economy and avoid any expected crisis. Yaseen Anwar, the State Bank of Pakistan Governor, said that the discount rate boosted up to 9.5 percent compared to the previous 9 percent, after a seven-year decline.