• Sunday, August 14, 2022

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IMF Calls for More Action in Pakistan Without Mentioning New Bailout Deal

IMF warns Pakistan of possible rise in inflation and slower economic growth. (Photo: BRENDAN SMIALOWSKI/AFP/Getty Images).

By: Radhakrishna N S

The International Monetary Fund (IMF) has called on Pakistan’s new government to act fast to stabilise its teetering economy, warning growth will likely slow and inflation rise, but made no mention of a new bailout deal. Former cricketer Imran Khan’s new administration had vowed to decide by the end of September if it would seek an IMF bailout to shore up the economy as it faces a balance-of-payments crisis and dwindling reserves. However, it has yet to announce a deal as it seeks other arenas of financing and launched a highly publicised austerity drive that has included auctioning off government-owned…

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