Pakistan Holds Interest Rates at 22% as Inflation Slows and IMF Loan Talks Continue

Pakistan's central bank held the key interest rate at a record high 22% for the 6th straight meeting as the new government negotiates an IMF loan
Inflation pace slowed to 23.06% in February, the lowest in almost 2 years, but still remains high
Bond managers are reducing exposure to Pakistan's debt due to concerns over IMF negotiations and history of policy slippage
Pakistan remains reliant on IMF aid and faces $24.3 billion in external financing needs in the next fiscal year
The nation is expected to easily repay $3.5 billion of foreign debt due by June, but the rupee may come under pressure after months of stability