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Economy

Khan boasts of Pakistan's economic revival despite slow demand

Cheap currency reduces current-account deficit, but interest rate stays high

Pakistan's Prime Minister Imran Khan has been cheering a brighter economic picture, but high interest rates threaten to put a damper on growth.   © Reuters

ISLAMABAD -- Recent trends in Pakistan have given Prime Minister Imran Khan reason to claim that an economic recovery is spreading across the South Asian country.

"Pakistan's economy finally heading in right direction, as more of our economic reforms bear fruit," Khan tweeted recently following a slight improvement in the current-account deficit, and the International Monetary Fund's approval of an approximately $500 million loan that is part of a larger $6 billion package agreed in July.

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