December 10, 2024
Business

A new deal with the IMF will determine economic success

A new deal with the IMF will determine economic success

KARACHI: Pakistan’s new agreement with the IMF will determine economic success.

2023 has been the worst year of economic volatility for Pakistan, with the Pakistan Stock Exchange touching an all-time high of 68,131 thousand points at the end of the year, falling to a record low of 334 rupees against the dollar in September, which is the year-end value. I improved to 279. In May, inflation peaked at 29 percent, the worst economic crisis during the first half of the year, and the country teetered on the brink of default. However, in July, the IMF program After the restoration, the situation started to improve.

At the beginning of the new year, the important question is whether the economy, which suffered from the worst fluctuations in 2023, will now be able to move towards improvement and stability.

It should be noted that the first test of the year 2024 is the election in February and political stability, the second test is to maintain the momentum of the economic policies of the government established as a result of the election, which has been established by the caretaker government, the third important factor is the global economic conditions. However, there is a glimmer of hope that 2024 will prove to be somewhat better than last year.

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