Pakistan needs decisive policies to stabilise economic environment: IMF
The International Monetary Fund- IMF has warned that Pakistan is facing a challenging economic environment and decisive policies and reforms are needed to stabilise the economy.
IMF reached a deal on Sunday with the cash-strapped government of Prime Minister Imran Khan on a USD 6 billion bailout to ward off a financial crisis.
The funding, which still needs approval from the International Monetary Fund’s management, would be provided over three years.
Pakistan is facing an economic crisis with short supplies of foreign currency reserves and stagnating growth. In February, its central bank had the only USD 8 billion left in foreign reserves.