Pakistan faces significant challenges, says IMF director

Islamabad / Riyadh: International Monetary Fund (IMF) Managing Director Krista Lena Georgieva says that Pakistan is facing significant difficulties in the first quarter, while China’s performance has been better than expected.

IMF Managing Director Kristalina Georgieva said in a special session of the World Economic Forum that despite the difficulties of the last few years, growth and the global economy are good, we have improved the growth projections for this year.

He said that the performance of America is good among advanced economies, the performance of emerging markets like Indonesia, Malaysia, India is also good. He said China’s performance in the first quarter was somewhat better than expected, with some countries such as Pakistan facing significant difficulties.

The IMF director said that Egypt is better now but it also has problems, the condition of low-income countries is getting worse, the world has lost 3.3 trillion dollars due to the Corona epidemic, the income is less than the economic loss due to Corona. Countries were more affected.

Krista Lena Georgieva said that there are three priorities for us at the moment, the first priority is to bring inflation to the target in countries where inflation is high, we have succeeded in reducing inflation to some extent, but there is still work to be done.