IMF’s MD Kristalina says Pakistan continue to experience economic hardships
RIYYADH ( Web News )
The Managing Director (MD) of the International Monetary Fund (IMF) Kristalina Georgieva said Pakistan and Egypt continue to experience economic difficulty.
According to the 24News HD TV channel, she expressed these thoughts during the World Economic Forum (WEF) session continued in Saudi Arabia’s capital Riyadh on Sunday.
Addressing the WEF session, Kristalina Georgieva shared her concerns, saying: “The coronavirus pandemic has caused losses to the world economy of $3 trillion. The coronavirus epidemic caused greater losses for the less developed nations.”
She added that some nations have steered out of the coronavirus catastrophe, such as China and Indonesia. She added, “The pandemic and wars had depleted reserves of many countries. There will be more hardship in the coming days.”
Speaking about the economic situation of the United States, she said, “The economy of the United States is better, but the situation in the Eurozone is not good.”
Talking about the policies of her organization, she said “The IMF has three basic priorities. The first priority is to bring inflation down to the target. It is also the IMF’s target to create a balance between income and expenditures”.
IMF Executive Board meeting tomorrow
It is worth mentioning that the IMF Executive Board will meet tomorrow (Monday) and there is a possibility of approval of the last installment of about 1.1 billion dollars for Pakistan. Pakistan has already received 1.9 billion dollars in 2 installments.