ISLAMABAD: The International Monetary Fund has termed Pakistan’s economic outlook as “favorable” with improved availability of energy, and growth-supporting structural reforms.
According to latest report released by IMF, confidence of investors in Pakistan is growing as its economy has stabilized after completing a bailout program.
It cited Chinese infrastructure investments as one of the reasons for economic development.
The report highlights that hopes are pinned on the China-Pakistan Economic Corridor initiative which will link the China’s Xinjiang region with the Arabian Sea throughPakistan.
IMF report predicts six per cent GDP over the medium term due to stepped-up China Pakistan Economic Corridor investments.
The report urges Islamabad to allow greater exchange rate flexibility as the country’s foreign exchange reserves have declined in the context of a stable rupee-dollar exchange rate. NNI