Pakistan growing, but poverty still endemic: IMF
WASHINGTON: Pakistan’s economy has successfully emerged from the 1998-99 crisis and is growing at a healthy clip, but more steps are needed to curb widespread poverty, the IMF said on Monday.
In its annual review of the Pakistani economy, IMF directors said the near-term economic outlook is “positive”, with growth of around six percent expected to continue over the 2004-2005 period.
The IMF directors said Pakistan must find ways to lower heavy debt levels. “In this regard, directors encouraged the authorities to pursue more ambitious revenue targets and to expand the tax base further into the services and agricultural sectors,” the report said. The IMF commended Pakistan for liberalizing trade, creating “one of the most liberal trade regimes in South Asia”. afp