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PAKISTAN'S ECONOMIC REFORM STRUGGLES UNDER WEAK COALITION GOVERNMENT, SAYS REPORT
April 02, 2024
|The Business Guardian
The IIF noted that historical precedence, along with a politically weak government, meant that risks were tilted to the downside.
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The Washington-based Institute of International Finance (IIF) stated that amidst Pakistan's staggering economic crisis, the foremost obstacle lies in achieving fiscal consolidation and implementing reforms. This task is compounded by a fragile coalition government and political turbulence fueled by allegations of electoral fraud, as reported by Dawn on Monday.
IIF is a global association of financial institutions comprising the world's largest commercial and investment banks, insurance companies, and investment management firms.
"The biggest challenge will come from fiscal consolidation," the IIF said, noting that this was an area of particular importance as large fiscal deficits have led to public debt increasing from 55% of GDP in the fiscal year 2009-2010 to 79% in 2022-23.
هذه القصة من طبعة April 02, 2024 من The Business Guardian.
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