The 3.4% growth rate was the second lowest in the South Asian region and was only above the 2.1% growth projected for Sri Lanka, which is also facing external sector problems. “The government’s estimate of 3.9% is in the same confidence interval as the World Bank estimate,” replied the spokesperson for the World Bank local office. The World Bank termed the delay in revival of the IMF loan programme a major downside risk to the 3.4% growth projection. The stalemate in the IMF programme will enhance external financing difficulties, according to the World Bank. Public debt will remain elevated in the medium-term, as will Pakistan’s exposure to debt-related shocks, according to the World Bank.

Source: The Express Tribune October 08, 2021 03:56 UTC