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

state-bank-of-pakistan-sbp
The State Bank of Pakistan
Photo: SBP/Abbas Ali Khan

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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