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Is Pakistan Economy Over the Hump?

For Imran Khan and his economic team despite World Bank returning to financing projects, portends remain grim with growth unlikely to cross 3 percent in the current fiscal

A year ago none would have wagered over the recovery of Pakistan's economy? Even today, there is not much to talk about the state of finances or the deficits of a nation that appears to be eternally on adrenalin from international banking and friends and patrons. Yet the ides of collapse seem to have been crossed at least for now. Here are some signs of the same-

First - World Bank has restored budgetary support to Pakistan, an indication of the strengthening of the economy.

Asian Development Bank (ADB) and the World Bank had suspended budgetary support to Pakistan in 2017 due to macro-economic imbalances; now the Bank is back following the restoration of funding by the ADB earlier.

WB is due to approve a $500 million loan to bring improvement in fiscal management and harmonise sales tax.

WB may also approve a development policy credit — the Resilient Institutions for Sustainable Economy (RISE) programme — by March 2020.............................

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