IMF signs off on Pakistan aid despite ‘exceptionally high’ risks
Central bank reserves are low and fiscal spending breached limits, but recovery is proving strong
The International Monetary Fund’s executive board has agreed to release $1 billion in support for Pakistan, despite warning of high risks and noting the authorities’ failure to meet some policy targets.
Pakistan’s economy has recovered strongly from the shock of Covid-19. However, rapid growth has come alongside a deterioration of long-running external imbalances and higher inflation, the IMF notes in a report on its sixth review of Pakistan’s ongoing programme, published on February 4.
The
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