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Another setback for Pakistan on the economic side

Another setback for Pakistan on the economic side

The International Monetary Fund (IMF) has unveiled the World EconomicOutlook and predicted Pakistan’s growth rate at 3.5%.

The IMF’s World Economic Outlook report said that unemployment andinflation will further rise in Pakistan while the economic growth targetwould not be achieved.

The report stated that the unemployment rate would increase as compared tothe previous fiscal year from 6.2% to 6.4%. The global institutionpredicted 3.5% growth rate in the current fiscal year, inflation 19.9% andcurrent account deficit up to 2.5%.

Earlier in the day, Finance Minister Ishaq Darlinkalongwith a delegation left for the United States (US) to negotiate withinternational lenders.

As per details, the delegation led by Finance Minister Ishaq Dar will holdnegotiations with the International Monetary Fund (IMF) and the World Bank(WB).

Pakistan has been demanding of the international lenders for new terms forPakistan amid devastating floods in the country.