Pakistan economy to gradually ‘recover’ in 2021: IMF

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The International Monetary Fund (IMF) expects Pakistan economy to move towards ‘gradual recovery’ in 2021.

The IMF in its latest report titled Policy Actions Taken by Countries, was of the view that due to the coronavirus pandemic lead economic slowdown Pakistan’s near-term economic outlook has worsened notably, and growth is estimated at –0.4 percent in FY 2020.

In its report, IMF said that starting on March 23, both the federal and provincial governments have been implementing measures to contain and mitigate the spread of the virus. However, since mid-April, the federal government, in coordination with provinces, has been gradually easing lockdown arrangements, by allowing ‘low-risk industries’ to restart operation and ‘small retail shops’ to reopen with newly developed Standard Operating Procedures.