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Pakistan faces significant challenges, MDIMF

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MDIMF Kristalina Georgieva — file photo

The Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva has said that some countries like Pakistan are facing significant difficulties.

Kristalina Georgieva, speaking at the special session of the World Economic Forum in Riyadh, Saudi Arabia, said that there were two messages from the IMF during this meeting of the World Economic Forum.

He said that despite the difficulties of the last few years, the growth and the economy are good, we have improved the growth estimates for this year, the performance of America in advanced economies is good.

Kristalina Georgieva said that emerging markets such as Indonesia, Malaysia and India are also performing well, while China’s performance in the first quarter was better than expected.

He said that Egypt is better now, but it also has problems, the condition of low-income countries is deteriorating, the world has lost 3.3 trillion dollars due to the Corona epidemic.

MDIMF has said that low income countries are more affected by the economic loss due to Corona, for us there are 3 priorities at the moment.

He also says that the first priority is to bring inflation to the target in the countries where inflation is high. They have succeeded in bringing inflation down to a certain extent, but there is still work to be done.

MDIMF said that our second priority is to focus on fiscal deficit management, fiscal deficit management is a very difficult time.

He further stated that our third priority is to find more avenues for collaboration.

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