Pakistan Development Update, June 2019 : Weathering the Storm - Restoring Macroeconomic Stability

Pakistan Development Update, June 2019 : Weathering the Storm - Restoring Macroeconomic Stability

Pakistan is facing yet another balance of payment crisis. Authorities have taken some corrective measures and negotiated a 39-month stabilization program with the International Monetary Fund (IMF). Nonetheless, inflationary pressures increased duri...

Full description

Bibliographic Details
Main Author: World Bank
Format: Report
Language:English
Published: World Bank, Washington, DC 2019
Subjects:
TRADE AND INVESTMENT;
ECONOMIC GROWTH
ECONOMIC OUTLOOK
MONETARY POLICY
FINANCIAL SECTOR
BALANCE OF PAYMENTS
FISCAL TRENDS
DEBT
RISKS
STRUCTURAL REFORMS
STATE-OWNED ENTERPRISES
CHILD MARRIAGE
Online Access:http://documents.worldbank.org/curated/en/632901566311713146/Weathering-the-Storm-Restoring-Macroeconomic-Stability
http://hdl.handle.net/10986/32301
id okr-10986-32301
recordtype oai_dc
spelling okr-10986-323012021-09-21T12:22:41Z Pakistan Development Update, June 2019 : Weathering the Storm - Restoring Macroeconomic Stability World Bank TRADE AND INVESTMENT; ECONOMIC GROWTH ECONOMIC OUTLOOK MONETARY POLICY FINANCIAL SECTOR BALANCE OF PAYMENTS FISCAL TRENDS DEBT RISKS STRUCTURAL REFORMS STATE-OWNED ENTERPRISES CHILD MARRIAGE Pakistan is facing yet another balance of payment crisis. Authorities have taken some corrective measures and negotiated a 39-month stabilization program with the International Monetary Fund (IMF). Nonetheless, inflationary pressures increased during FY19. Current account deficit narrowed as imports declined, however, exports performance remained weak. Despite the adjustment measures fiscal pressure persist due to high debt servicing and defense expenditures. Debt level is in breach of Fiscal Responsibility and Debt Limitation Act (FRDLA). The growth is projected to decelerate further in FY20, as the government tightens fiscal and monetary policy. This report highlights the importance of tackling the structural challenges which are hampering growth and investments. The report emphasizes that the failure to address these structural challenges, in parallel to addressing the macroeconomic imbalances, just means that the next crisis is another 4 to 5 years away. 2019-08-21T17:10:24Z 2019-08-21T17:10:24Z 2019-06 Report http://documents.worldbank.org/curated/en/632901566311713146/Weathering-the-Storm-Restoring-Macroeconomic-Stability http://hdl.handle.net/10986/32301 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work South Asia Pakistan
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic TRADE AND INVESTMENT;
ECONOMIC GROWTH
ECONOMIC OUTLOOK
MONETARY POLICY
FINANCIAL SECTOR
BALANCE OF PAYMENTS
FISCAL TRENDS
DEBT
RISKS
STRUCTURAL REFORMS
STATE-OWNED ENTERPRISES
CHILD MARRIAGE
spellingShingle TRADE AND INVESTMENT;
ECONOMIC GROWTH
ECONOMIC OUTLOOK
MONETARY POLICY
FINANCIAL SECTOR
BALANCE OF PAYMENTS
FISCAL TRENDS
DEBT
RISKS
STRUCTURAL REFORMS
STATE-OWNED ENTERPRISES
CHILD MARRIAGE
World Bank
Pakistan Development Update, June 2019 : Weathering the Storm - Restoring Macroeconomic Stability
geographic_facet South Asia
Pakistan
description Pakistan is facing yet another balance of payment crisis. Authorities have taken some corrective measures and negotiated a 39-month stabilization program with the International Monetary Fund (IMF). Nonetheless, inflationary pressures increased during FY19. Current account deficit narrowed as imports declined, however, exports performance remained weak. Despite the adjustment measures fiscal pressure persist due to high debt servicing and defense expenditures. Debt level is in breach of Fiscal Responsibility and Debt Limitation Act (FRDLA). The growth is projected to decelerate further in FY20, as the government tightens fiscal and monetary policy. This report highlights the importance of tackling the structural challenges which are hampering growth and investments. The report emphasizes that the failure to address these structural challenges, in parallel to addressing the macroeconomic imbalances, just means that the next crisis is another 4 to 5 years away.
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title Pakistan Development Update, June 2019 : Weathering the Storm - Restoring Macroeconomic Stability
title_short Pakistan Development Update, June 2019 : Weathering the Storm - Restoring Macroeconomic Stability
title_full Pakistan Development Update, June 2019 : Weathering the Storm - Restoring Macroeconomic Stability
title_fullStr Pakistan Development Update, June 2019 : Weathering the Storm - Restoring Macroeconomic Stability
title_full_unstemmed Pakistan Development Update, June 2019 : Weathering the Storm - Restoring Macroeconomic Stability
title_sort pakistan development update, june 2019 : weathering the storm - restoring macroeconomic stability
publisher World Bank, Washington, DC
publishDate 2019
url http://documents.worldbank.org/curated/en/632901566311713146/Weathering-the-Storm-Restoring-Macroeconomic-Stability
http://hdl.handle.net/10986/32301
_version_ 1764476246454960128

Similar Items