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Pakistan's IMF loan shows few signs of stopping economic slide

'Hope is not a strategy,' economist says, calling for more drastic measures

A vendor sells vegetables in Peshawar, Pakistan, on Aug. 31. The country's inflation rate hit 27.3% in the month, the highest in decades.   © Reuters

ISLAMABAD -- Pakistan faces growing doubts that its International Monetary Fund bailout will spark an economic turnaround, leading some experts to call for more drastic emergency measures.

Catastrophic flooding has heaped pressure on what was already an economy in dire straits, with the government now estimating the damage as high as $30 billion. And while the IMF's approval of a $1.17 billion loan tranche at the end of August was expected to give other countries more confidence to offer support, thereby staving off a default, allies appear to be giving the cold shoulder.

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