The U.S. warnings come just two months before the Tokyo Olympics are set to get under way, something a top Olympic officials last week said would happen even under a state of emergency after being postponed last year.
On policy rate, Baqir informed that Pakistan reduced its interest rate by 625 basis points since 1st February 2020 to provide interest expense relief for borrowers.
The central bank chief said that about Rs 2 trillion liquidity or five percent of the GDP was injected through SBP’s economic policy support measures during COVID.
“This rebound was fueled by a well-calibrated policy response,” said SBP.
SBP said that it provided a targeted economic stimulus of Rs2 trillion to support the recovery through interest rate cut, principal deferment & loan restructuring, Rozgar payroll finance scheme to prevent layoffs, and concessional finance for investment in industry and health facilities.
In his address, the Prime Minister congratulated Dr. Sania Nishtar and her entire Ehsaas team, after the World Bank recently acknowledged the Ehsaas program as the fourth largest social protection intervention globally in terms of the number of people covered during the COVID-19 pandemic.