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17:08 Sep 13, 2025
The International Monetary Fund (IMF) expressed deep condolences on Saturday for the loss of life caused by devastating floods in the country and said its upcoming Extended Fund Facility (EFF) review mission will evaluate whether the government’s fiscal policies and emergency provisions can effectively address the crisis, a senior official of the Washington-based lender said. “The mission will assess whether the FY26 budget, its spending allocations and emergency provisions remain sufficiently agile to address the spending needs necessitated by the floods,” said Mahir Binici, the IMF’s resident representative in Pakistan. The flash floods have killed 972 people so far, according to the National Disaster Management Authority. The floods have destroyed crops, livestock and homes across Punjab and are now pushing into Sindh, threatening fresh food inflation and deeper hardship. The State Bank of Pakistan is expected to keep its key rate at 11 per cent on Monday, a Reuters poll showed, as policymakers weigh infla...