News Desk
ISLAMABAD: Katrina Ell, a senior economist with Moody, on Wednesday warned that inflation in Pakistan could average 33 percent in the first half of 2023 before trending lower, while a bailout from the International Monetary Fund (IMF) alone is unlikely to put the economy back on track.
Katrina Ell said that the economy really needed persistent and sound economic management.
Economist predicts tough journey
She said that there is an inevitably tough journey ahead for Pakistan.
Pakistan and IMF could not reach an agreement last week, and a visiting IMF delegation departed Islamabad after ten days of negotiations but said talks would continue.
An agreement on the 9th review of the program would release over 1.1 billion dollars of the total 2.5 billion dollars pending as part of the current package agreed upon in 2019, ending on 30 June.
Ell said that even though the economy is in a deep recession, inflation is incredibly high due to part of the latest bailout conditions.
