The World Bank’s views about adverse impacts of the IMF programme are also shared by some Pakistani cabinet ministers, who in private told The Express Tribune that the IMF programme could not go till the end unless the harsh, already accepted conditions for electricity prices and taxes were softened. The World Bank has again projected just 1.3% economic growth for the current fiscal year, which is slightly lower than the IMF forecast given in the World Economic Outlook, also released on Tuesday. The IMF - World Bank’s sister Bretton Woods institution - projected only 1.5% economic growth for Pakistan in the current fiscal year and 4% in the next fiscal year. Similarly, in urban areas, the poverty level surged from 10.8% to 12.9%, according to the World Bank. Nevertheless, the severity of the crisis amongst the poorest and most vulnerable segments of the population might have long-lasting consequences, said the World Bank.

Source: The Express Tribune April 07, 2021 02:20 UTC