IMF's $7 billion bailout at risk as Pakistan's economy continues to weaken

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Official statistics show that out of four key underlying assumptions for achieving the nearly Rs 13 trillion tax target - the economic growth rate, inflation, large-scale manufacturing and imports three assumptions have already been proven wrong by the end of the first quarter of the current fiscal year.

The fundamental assumptions used to finalise the USD 7 billion deal with the IMF have gone awry within a month of its approval, leaving the authorities concerned with an option either to renegotiate the package or keep suffocating the economy through more taxes, according to a media report on Thursday.

The federal government has also overly committed on behalf of the four provincial governments that, too, are struggling to meet their conditions soon after the deal became effective.

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Category: BusinessFinance

Markets: IndiaPakistan

Topics: Bailout IMF

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 18:58:50 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 1092 words

Reading Time: 7 minutes read

Sentences: 41 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23349481

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