Imran Khan, founder of Pakistan Tehreek-e-Insaf (PTI), reportedly admitted on Thursday that the government had saved Pakistan from the brink of default, as reported by national media.
According to a report by ARY News, responding to journalists’ questions at Adiala Jail during a case hearing, Khan was asked if he agreed that the government had stabilized the economy. He confirmed, stating, “The government saved the economy from the verge of default.”
However, Khan emphasized that while the country was saved from default, the economy was still not thriving. Economic experts in 2023 highlighted that Pakistan’s deal with the International Monetary Fund (IMF) had played a key role in preventing default and restoring confidence in the stock market.
Experts predicted that the bullish trend in the market would continue for at least ten days, boosting the rupee, attracting investment, and creating space for the new government to address the crisis.
Mohammad Suhail, an economic expert, noted that the IMF deal exceeded expectations and would assist the new government in tackling the economic challenges. Abid Sulehri added that the market’s positive momentum could last for the next ten days, with investor confidence on the rise.
Samiullah Tariq, another expert, remarked that the IMF deal had sparked renewed investor interest, likely to strengthen the rupee by five to seven rupees against the US dollar.
