Pakistan may face economic instability if reforms stop: IMF

Pakistan’s macroeconomic stability earned in the past three years could be undermined if the country fails to continue with its reforms, the IMF has warned, amid the political tension over the Panama Papers leaks case.

Resident representative of the International Monetary Fund (IMF) to Pakistan Tokhir Mirzoev said the economic stability needed to be used to make the gains achieved through it more permanent.

Mirzoev cautioned that the present trends could undermine macroeconomic stability “if the reforms do not continue”.

The warning came amidst looming political instability in the run up to a verdict in the high-profile Panama Papers case against beleaguered Prime Minister Nawaz Sharif and his family for alleged corruption and money laundering.

The Supreme Court on Friday reserved its judgement in the case after concluding the hearings. It is not clear if the verdict would unleash chaos in the country.

The Panama Papers last year revealed that Sharif sons and daughter owned

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