IMF Bailout package: Pakistan economy watch response over the decision

IMF Bailout package: Pakistan economy watch response over the decision
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ISLAMABAD - The Pakistan Economy Watch (PEW) has responded over the decision of federal government to approach IMF bailout package.

PEW on Tuesday said Prime Minister Imran Khan’s decision to seek IMF help to overcome balance of payments crisis will stabilise the market facing turmoil due to uncertainty.

The continued indecision regarding a bailout package from IMF has damaged stock market, eroded rupee and raised concerns about the future of the economy but the decision of the premier will calm the nervous investors, it said.

The forex reserves are sliding, the deficit is increasing, payments for imports and debt servicing has become difficult and there is no money for developmental schemes, therefore, IMF loan has become last option, said PEW Chairman Brig. Muhammad Aslam Khan (Retd).

Economy