Pakistan’s prime minister Shahid Khaqan Abbasi reiterated that Pakistan, which has received 12 IMF loans since 1988, doesn’t need a bailout. Photo: BloombergIslamabad: Pakistan’s prime minister Shahid Khaqan Abbasi said political turmoil is hobbling investors’ confidence and negatively impacting the country’s economy before national polls next year. Adding to Abbasi’s challenges, he also took over the finance portfolio after granting finance minister Ishaq Dar medical leave in London last week. However, China’s Belt and Road initiative is also adding to a surge in imports, which has contributed to the deterioration in Pakistan’s current account position. Abbasi reiterated that Pakistan, which has received 12 IMF loans since 1988, doesn’t need a bailout.

Source: Mint December 01, 2017 07:30 UTC