The International Monetary Fund (IMF) has expressed its concerns about the Pakistani economy.
The IMF report of the 7th and 8th review of Pakistan has been released, while charging the previous government in the country report of Pakistan, the IMF has written that the PTI government has broken promises and missed targets.
The report said that the previous government increased the budget deficit and reduced foreign exchange reserves, all of which were done by the PTI government at a time when Pakistan’s political environment was tense.
According to the IMF report, due to the actions of the previous government, Pakistan’s external position became unstable and the value of the rupee also decreased.
The report said that the current government has brought the loan program back on track, ending fuel subsidies, after which the IMF has extended Pakistan’s loan program till June 2023.
The IMF report said that due to the rise in electricity and fuel prices and interest rates, the deficit increased, inflation could reach 20 percent.
The report expressed fear that the coalition government has a weak majority in parliament, and in the current situation, people may take to the streets to protest against inflation.
