Pakistan is going to downgraded to Frontier Market from Emerging Market.

[arifkarim]

Donkey this guy is a government employee and in ECC committee.
https://twitter.com/x/status/1408344612637265924 He is also just 1 hr ago in Dunya news that ECC and Hammad Azhar are really worried by this move and a downgrade is a downgrade you cannot spin it by any means.

"Concerned has been reached to Reza Baqir by FM committee that enough is enough do not treat PKR like an orphan and he also advised to form a committee to monitor SBP moves that is why SBP advised Banks on Wednesday to monitor NOP limit and make more effective."

PKR should reflect true nature of Pakistani economy. It should not be treated like some hero and manipulated to get desired results. Pakistan got itself into emerging market rating by artifically overvalued currency. As the currency now is semi market based, there is nothing to worry as it is reflecting true state of economy

 

[Doom1111]

PKR should reflect true nature of Pakistani economy. It should not be treated like some hero and manipulated to get desired results. Pakistan got itself into emerging market rating by artifically overvalued currency. As the currency now is semi market based, there is nothing to worry as it is reflecting true state of economy

ECC did not buy Siasat.Pk kids bullshit just like IMF is not buying PTI bullshit. You can get a life now or if you want the detail what ECC send their concern to SBP than watch Dunya News 1 PM chat.

 

[arifkarim]

ECC did not buy Siasat.Pk kids bullshit just like IMF is not buying PTI bullshit. You can get a life now or if you want the detail what ECC send their concern to SBP than watch Dunya News 1 PM chat.

SBP is not manipulating Pakistani currency. Pakistan's real effective exchange rate is normal (close to 100). ECC can keep their demands of manipulating PKR to themselves. SBP is independent of Govt

 

[Doom1111]

SBP is not manipulating Pakistani currency. Pakistan's real effective exchange rate is normal (close to 100). ECC can keep their demands of manipulating PKR to themselves. SBP is independent of Govt

They have asked SBP to send documentation of why PKR devalued with data of Import, export etc. If they see any laziness, or any action in the limit of market base exchange that could have been done not spending dollar just effectiveness they were asking from SBP like every country does in June to ease off pressure.

If they find any kind of negligence than they will form committee that could recommend to change SBP governor according to ECC spokesperson.

 

[arifkarim]

They have asked SBP to send documentation of why PKR devalued with data of Import, export etc.

PKR appreciated from 164 to 154 but ECC never asked for any data. Now that PKR is depreciating, they are asking for data? So SBP governor was good when PKR was appreciating but not good when currency is depreciating? ?

 

[Doom1111]

PKR appreciated from 164 to 154 but ECC never asked for any data. Now that PKR is depreciating, they are asking for data? So SBP governor was good when PKR was appreciating but not good when currency is depreciating? ?

They are very angry because it is impacting the budget already. ECC Spokesperson said that why SBP governor did not ask Banks to monitor NOP or any kind of capital control on early month?

Today NOP effectiveness let PKR appreciate 158.60 to 157.60


They said dollar spending is not the option but effectiveness should have been done because they knew PKR would be in pressure like other countries from starting of June.

Anyway SBP has to submit the documents by Monday by any means he said.