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IMF says Pakistan facing ‘exceptionally high’ risks

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“Resolving Pakistan’s structural challenges, including long-term BOP (balance of payments) pressures, will require continued adjustment and creditor support beyond the current programme period,” IMF stated in the report analysing Pakistan’s macroeconomic outlook

The International Monetary Fund (IMF) in a report stated that Pakistan needs another programme and support from other multilateral lenders beyond the upcoming general elections and the ongoing standby arrangement in order to revive its economy.

“Resolving Pakistan’s structural challenges, including long-term BOP (balance of payments) pressures, will require continued adjustment and creditor support beyond the current programme period,” IMF stated in the report analysing Pakistan’s macroeconomic outlook, Dawn reported.

The 120-page report is based on the Memorandum of Economic and Fiscal Policies (MEFP) signed by Pakistan’s Finance Minister Ishaq Dar and State Bank Governor Jameel Ahmed.

“A possible successor arrangement could help anchor the policy adjustment needed to restore Pakistan’s medium-term viability and capacity to repay,” it said.

The report further stated that Pakistan’s economic challenges were complex and multifaceted, and risks were exceptionally high. “Addressing them requires steadfast implementation of agreed policies, as well as continued financial support from external partners. Consistent and decisive implementation of programme agreements will be essential to reduce risks and maintain macroeconomic stability,” it said.

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