Islamabad, 02nd June 2023: In a major development, Pakistan recorded an inflatory pressure of 38%, the highest ever recorded in all of Asia. The country overtook Sri Lanka’s earlier peak of 25.2% in April 2023.
With the unrest in the state, and the government’s reluctance to satisfy the IMF conditionalities has now forced it towards an expected default if the current financing program ends in later June.
The country’s negotiations with IMF further slowed down after IMF mission leader Nathan Porter stated publicly that he hoped Pakistan’s present political situation would be handled in accordance with the Constitution and the rule of law.
Pakistan Defence Minister Khawaja Asif condemned Porter’s statement, saying it amounted to intervention in Pakistan’s political affairs. Minister Asif objected to Porter speaking on Pakistan’s domestic politics rather than providing the Islamic nation with the much-needed USD 1.1 billion credit.
