ISLAMABAD: Pakistan is considering asking the IMF for an emergency loan as preliminary estimates indicate that disastrous floods may have cost about Rs2.5 trillion in losses and that the country’s economy may only grow by 2% this fiscal year.

According to the Ministry of Finance’s first assessment, the average inflation rate might drastically increase to 26% as a result of supply chain disruptions, which is much higher than the pre-flood projections of 18% to 20% made by the State Bank of Pakistan and the IMF.

 

Initial estimates of the economic losses caused by the floods have been developed by the Ministry of Finance and will be presented today (Thursday) in a meeting.

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