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Pakistan central bank on growth, inflation outlook

Mount Equity Group Tokyo, Japan > News > Markets > Pakistan central bank on growth, inflation outlook

Pakistan is expected to grow about 5% in the current fiscal year that ends in June 2022, the country’s central bank governor told CNBC on Tuesday.

“This is a four-year high and this growth is reflected in robust and brisk demand of even non-energy imports in Pakistan,” Reza Baqir told CNBC’s “Street Signs Asia.”

To be clear, Pakistan’s economy is still teetering on the brink of crisis — the country faces record inflation that’s pushing the price of daily commodities higher as threats of unrest loom, according to media reports.

The International Monetary Fund on Monday said it reached an agreement with Pakistan on the measures required to revive a $6 billion funding package, after it stalled earlier this year due to issues surrounding necessary reforms.

It can potentially unlock a $1 billion tranche of funds to Pakistan, which would bring the total disbursement under the program so far to about $3 billion.

The IMF approved the funding…

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