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IMF to Assess Pakistan’s Flood Spending, Budget Agility
The IMF will assess Pakistan's fiscal policies and emergency spending amid floods that killed 972 people and submerged 1.32 million acres of crops, affecting economic growth and inflation.
- The International Monetary Fund said its upcoming EFF review mission will arrive in Islamabad on September 25 and remain until October 8 to evaluate Pakistan's fiscal policies and emergency spending agility amid floods, Mahir Binici said.
- After torrential monsoon rains in Punjab and Sindh, Pakistan's National Disaster Management Authority reports 972 deaths and about 1.32 million acres of submerged crops amid widespread displacement.
- The Government of Pakistan has approached the IMF for relief, suspending August electricity bills and seeking one-month deferrals while the Power Division collects damage data.
- Policy makers face the prospect that IMF reviews could revise GDP growth of 4.2% downward and CPI-based inflation toward 11%, with flood spending impacting fiscal stability.
- Under the $7 billion Extended Fund Facility programme, IMF officials may release a $1 billion third tranche, building on a $1.4 billion IMF loan approved in May.
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IMF says assessing Pakistan flood damages, next review mission to
KARACHI: The top International Monetary Fund (IMF) official in Pakistan said on Saturday his organization is assessing flood damage and will use its next review mission to evaluate appropriate policy responses to support affected people and strengthen national resilience. The flooding during the monsoon season that began in late June has killed 972 people across Pakistan,
·Riyadh, Saudi Arabia
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Total News Sources12
Leaning Left3Leaning Right2Center1Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 17%
R 33%
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