IMF Warns Pakistan Economy Deteriorating

IMF Warns Pakistan Economy Deteriorating

The International Monetary Fund said Thursday that Pakistan’s economic situation was worsening and faces a return to double-digit inflation as the government prints money to finance its deficit.

In a mission report, the IMF said Islamabad urgently needed to address deep problems in its energy sector, including costly subsidies and poor distribution, while boosting growth to meet a rapidly growing population.

It said the country’s external accounts are deteriorating, with incoming investment slowing and the central bank’s reserves dropping.

It warned that allowing inflation to rise is hurting the population at large.

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