Video Transcript
Johnny Chen
CFA, Portfolio Manager
Emerging Markets Debt Team
I just returned from visiting Pakistan last week. The trip was very insightful, and it gave me a glimpse of what looks like a pivotal moment for the country. Pakistan has faced elevated levels of inflation, high fiscal deficits, and low dollar liquidity. The economy has recently stabilized under the IMF Stand-By Arrangement program.
With elections expected soon, a newly elected government should negotiate into a new IMF program once the current one expires, and staying under an IMF program may help the country implement reforms needed in order for it to be more resilient to shocks and develop faster.
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