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KARACHI, Pakistan - Downside risks for the Pakistani economy remain exceptionally high, the International Monetary Fund said on Friday, in its staff report on the country, ahead of talks with the fund on a longer term progamme.
The fund added that political complexities and high cost of living could weigh on policy, adding that policy slippages, together with lower external financing, could undermine the narrow path to debt sustainability and place pressure on the exchange rate. Pakistan narrowly averted default last summer, and its $350 billion economy has stabilised after the completion of the last IMF programme, with inflation coming down to around 17% in April from a record high 38% last May.
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