IMF package unlikely to revive Pakistan's economy: Moody's analyst

IMF package unlikely to revive Pakistan's economy: Moody's analyst

ISLAMABAD: According to the analyst of the international rating agency Moody's, the package of the International Monetary Fund (IMF) is unlikely to revive Pakistan's economy.

Moody's analyst on Pakistan's economy said in an interview with a foreign news agency that the inflation rate in Pakistan may be 33% in the first 6 months of this year.

According to the news agency, Moody's analyst says that the IMF package alone is not likely to restore Pakistan's economy.

The analyst says that Pakistan's economy needs continuous, truly strong, and sustainable management, as food prices increase, Pakistan will have to pay, which will further increase poverty.

Moody's analyst said that imports are becoming more expensive due to the depreciation of the rupee, increase in energy prices will also increase the rate of inflation.

According to the economic analyst, the monetary policy will have to be tightened to control inflation in Pakistan, and the economic growth rate in Pakistan is expected to be 2.1 percent this year.

“An IMF bailout alone isn’t going to be enough to get the economy back on track. What the economy really needs is persistent and sound economic management,” senior economist Katrina Ell said in an interview on Wednesday.

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— Gul Bukhari (@GulBukhari) February 15, 2023

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