IMF says Pakistan needs to overcome trust deficit
The International Monetary Fund (IMF) has acknowledged that Pakistan's economy faced multiple challenges, including high inflation and interest rates as well as low foreign reserves.
Julie Kozack, the director for strategic communications of IMF, underlined this at a virtual press briefing the other day where she also referred to the talks the IMF had been holding with Pakistan. 'And of course, this is all coming on the back of devastating floods.'
She added that the global lender wanted the Pakistan government to initiate economic reforms that would greatly help overcome trust deficit between the two sides.
Julie Kozack said it was important to get assurances from Pakistan's external partners first before the renewal of the package deal.
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