Pakistan facing serious economic challenges: IMF

September 05, 2013 09:24

Pakistan is facing 'serious economic challenges' and it needs to carry out a set of comprehensive economic reforms, the International Monetary Fund has said, hours after it approved financial assistance of $6.7 billion to prevent the nation from the brink of an economic collapse.

"Pakistan is facing serious economic challenges. Overall vulnerabilities and crisis risks are high, with sub-par growth and unsustainable fiscal and balance of payments positions,"said IMF Deputy Managing Director and Acting Chair Nemat Shafik.

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