ISLAMABAD:

Pakistan has informed the International Monetary Fund (IMF) that its external sector will benefit from the floods due to an expected upsurge in remittances that may now hit $43 billion, enough to offset any dip in exports and keep the current account deficit under check.

The Pakistani authorities shared their macroeconomic assessment of the post-flood scenario with the IMF, which did not depict any element of concern, according to government sources. The assessment suggests a stable inflation rate around 7% and the economy still growing close to 4%.

The conservative official assessment was that workers' remittances may reach nearly $41 billion compared to the pre-flood target of $39.4 billion, said the government sources. The higher figure is linked to a better economic outlo

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