The International Monetary Fund (IMF) has slashed the growth outlook for cash-strapped Pakistan, forecasting the country's fragile economy will grow just 0.5 percent this year, down from 6 percent in 2022. The latest data on Pakistan's economy was released on April 12 by the IMF, which also forecast 27 percent inflation in the impoverished Islamic nation for 2023 and warned that unemployment will continue to rise. The country is struggling to avoid a default as it recovers from last summer's floods, which killed 1,739 people and caused $30 billion in damages. To read the original story by AP, click here.
IMF Slashes Cash-Strapped Pakistan's Growth Outlook To 0.5 Percent
Men collect free bread from a distribution point in Peshawar, Pakistan, on April 3. The latest data forecast 27 percent inflation in the impoverished Islamic nation for 2023 and warned that unemployment will continue to rise.