Pakistan averts default with IMF deal, but inflation rate will not fall any time soon

KARACHI – Pakistan may have avoided an economic default with a

US$3 billion

(S$4.05 billion) standby agreement

with the International Monetary Fund (IMF), but those who understand the country’s money woes remain reluctant to raise their hopes.

The South Asian nation needs at least US$22 billion to make interest payments, repay external debt and finance its current account for fiscal year 2024.