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Pandemic exacerbates debt vulnerabilities of Pakistan: IMF

Daily Times Says Pakistan’s banks could reach level of public sector exposure similar to Lebanon’s April 29, 2021 The International Monetary Fund (IMF) has said that the Covid-19 pandemic has exacerbated existing debt vulnerabilities of Pakistan and led to a surge in its financing needs. According to the IMF, across the Middle East, North Africa, Afghanistan and Pakistan (MENAP), countries responded to the Covid-19 pandemic with unprecedented scale and urgency. While this strong response helped save lives and cushion the economic blow, it also exacerbated existing debt vulnerabilities and led to a surge in financing needs. According to the IMF, many countries were already facing high debt. With limited access to external financing, governments and large state-owned enterprises turned to domestic banks. This expanded banks’ exposure to the public sector in several of MENAP’s emerging markets ranging from over 20 percent of total banks’ assets in Iraq, Jordan, and Qa

International monetary fundMiddle eastNorth africaRegional economic outlookசர்வதேச பண நிதிநடுத்தர கிழக்குபிராந்திய பொருளாதார ஔட்‌லுக்

Swift Reaction to COVID-19 Helped Save Lives But Aggravated Financial Situation: IMF

Swift Reaction to COVID-19 Helped Save Lives But Aggravated Financial Situation: IMF Across the Middle East, North Africa, Afghanistan, and Pakistan (MENAP), countries responded to the COVID-19 pandemic with unprecedented scale and urgency, which helped save lives and cushion the economic blow, but it also exacerbated existing debt vulnerabilities and led to a surge in financing needs, says the International Monetary Fund (IMF). The Fund uploaded details of measures taken by the countries in the MENAP region regarding debt and financing risks from COVID-19 on its website. The Fund stated that many countries were already facing high debt. By the end of 2019, one-half of MENAP countries had government debt ratios above 70 percent of GDP, and one in four countries faced public gross financing needs above 15 percent of GDP annually.

International monetary fundMiddle eastNorth africaRegional economic outlookசர்வதேச பண நிதிநடுத்தர கிழக்குபிராந்திய பொருளாதார ஔட்‌லுக்

Debt and financing risks from Covid-19 in Mena: IMF

Debt and financing risks from Covid-19 in Mena: IMF WASHINGTON, 2 hours, 54 minutes ago While the strong response of the Mena, Afghanistan, and Pakistan (Menap) countries helped save lives and cushion the economic blow, it also exacerbated existing debt vulnerabilities and led to a surge in financing needs, said the International Monetary Fund (IMF) in a new report. The IMF’s Regional Economic Outlook Update for the Middle East and Central Asia explores these issues and policies to address them. Here are four key questions: How significant were debt vulnerabilities in Menap prior to the pandemic and what were the primary concerns?

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Four Questions About Debt and Financing Risks from COVID-19 in Middle East and North Africa

Here are four key questions: How significant were debt vulnerabilities in MENAP prior to the pandemic and what were the primary concerns? Many countries were already facing high debt. By the end of 2019, one-half of MENAP countries had government debt ratios above 70 percent of GDP and one in four countries faced public gross financing needs above 15 percent of GDP annually. With limited access to external financing, governments and large state-owned enterprises turned to domestic banks. This expanded banks’ exposure to the public sector in several of MENAP’s emerging markets ranging from over 20 percent of total banks’ assets in Iraq, Jordan, and Qatar, to above 45 percent in Algeria, Egypt, and Pakistan, and up to 60 percent in Lebanon. By contrast, banks in emerging markets elsewhere had a public sector exposure of 12 percent.

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IMF - International Monetary Fund (via Public) / Four Questions About Debt and Financing Risks from COVID-19 in the Middle East and North Africa

IMF - International Monetary Fund (via Public) / Four Questions About Debt and Financing Risks from COVID-19 in the Middle East and North Africa
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Regional economic outlookபிராந்திய பொருளாதார ஔட்‌லுக்