Expense: Growth and Pakistan

expense: Pakistan is facing a challenging economic environment, with lackluster growth, elevated inflation, high indebtedness, and a weak external position, IMF representative Ernesto Ramirez Rigo said in statement, according to CNN. This reflects the legacy of uneven and procyclical economic policies in recent years aiming to boost growth, but at the expense of rising vulnerabilities and lingering structural and institutional weaknesses. The bailout comes despite new Pakistani Prime Minister Imran Khan previously saying he would not seek another bailout from the IMF, as he targeted alternative funding from the Middle East and China. The authorities recognize the need to address these challenges, as well as to tackle the large informality in the economy, the low spending in human capital, and poverty. Read More The IMF has been criticized in the past for imposing strict austerity on receiver nations, forcing governments to cut social programs and privatize national industries. Khan met with IMF director Christine Lagarde in February, as he sought to secure funding from the agency despite being a longterm critic of its previous dealings in Pakistan. (news.financializer.com). As reported in the news.