World
Exceptionally high’ economic risks exist in Pakistan, according to an IMF report
Pakistan, like many countries, faces a range of economic challenges that impact its growth, stability, and development. A recent report from the International Monetary Fund (IMF) has drawn attention to the existence of “exceptionally high” economic risks in Pakistan. This blog aims to examine the key findings of the IMF report, explore the underlying factors contributing to these risks, and discuss the potential implications for Pakistan’s economy.
Pakistan: IMF Bailout Should Advance Economic Rights
Pakistan’s recent agreement with the International Monetary Fund (IMF) for a bailout package presents an opportunity to advance economic rights and improve the well-being of its citizens. As the country faces significant economic challenges, including a high fiscal deficit and external imbalances, the IMF’s financial assistance can provide much-needed stability and support for Pakistan’s economy. However, it is crucial that the bailout conditions are designed with a focus on protecting and promoting the economic rights of the most vulnerable populations. This includes ensuring access to essential services such as education, healthcare, and social protection programs, while also addressing income inequality and promoting inclusive economic growth. By prioritizing economic rights in the implementation of the IMF bailout, Pakistan can create a more equitable and sustainable economic system that benefits all its citizens.
The IMF Report: Identifying Exceptionally High Risks
The IMF report highlights several critical factors that contribute to the exceptionally high economic risks faced by Pakistan. These include fiscal imbalances, a fragile external position, elevated public debt, and structural issues. The report emphasizes the need for decisive policy actions to address these challenges and enhance economic resilience.
Fiscal Imbalances: Pakistan’s fiscal deficit, driven by a mismatch between government revenues and expenditures, poses a significant risk to the economy. The report underscores the importance of fiscal consolidation measures to bring spending in line with revenues and reduce reliance on borrowing.
Fragile External Position: Pakistan’s external accounts face vulnerabilities, including a high current account deficit, limited foreign exchange reserves, and external debt repayments. The IMF report stresses the need to improve the country’s export competitiveness, attract foreign direct investment, and enhance foreign exchange inflows.
Elevated Public Debt: Pakistan’s public debt burden has been rising, raising concerns about debt sustainability and servicing capacity. The report highlights the importance of debt management strategies, fiscal discipline, and revenue mobilization to address this issue effectively.
Structural Challenges: The IMF report also identifies structural issues that hamper Pakistan’s economic growth potential, including weak governance, inefficiencies in the energy sector, and low productivity. Addressing these challenges requires comprehensive reforms to improve governance, enhance the business environment, and boost productivity across sectors.
Implications and the Way Forward
The IMF report’s findings indicate that addressing the exceptionally high economic risks in Pakistan requires concerted efforts from the government, policymakers, and relevant stakeholders. Failure to take prompt and effective measures could result in increased vulnerability, hinder economic growth, and impede progress towards social development goals.
To navigate these challenges, Pakistan must prioritize the following actions:
Fiscal Discipline and Reforms: Implementing sound fiscal policies, including revenue enhancement, expenditure rationalization, and effective public financial management, is crucial for long-term fiscal sustainability.
Strengthening External Resilience: Encouraging exports diversification, attracting foreign investment, and improving the balance of payments position are essential for reducing external vulnerabilities and enhancing economic stability.
Debt Management: Instituting prudent debt management practices, including prioritizing concessional borrowing, monitoring debt levels, and ensuring debt repayment capacity, is critical to mitigate the risks associated with the country’s debt burden.
Structural Reforms: Undertaking comprehensive structural reforms to improve governance, enhance the business environment, promote competition, and increase productivity across sectors will support sustainable and inclusive economic growth.
The IMF report highlighting “exceptionally high” economic risks in Pakistan serves as a wake-up call for policymakers and stakeholders to take swift and decisive actions. Addressing fiscal imbalances, strengthening the external position, managing public debt, and implementing structural reforms are vital steps towards achieving sustainable economic growth, stability, and resilience.
By embracing prudent economic policies, fostering an enabling business environment, and prioritizing governance reforms, Pakistan can navigate these challenges and unlock its full economic potential. It is through concerted efforts and collaboration that the country can pave the way for a prosperous future, ensuring improved living standards and opportunities for its citizens.
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Fashion
In a lavender Manish Malhotra saree, Hania Aamir sports her most gorgeous ethnic ensemble to date. View its astounding cost.
Hania Aamir serves stunning ethnic fashion inspiration in lavender Manish Malhotra tissue saree. Wondering how much it costs? Scroll down for all the details.
Hania Aamir is leaving fashion lovers spellbound with her stunning ethnic diaries. The Pakistani actor has been rocking back-to-back traditional outfits by Indian designers, turning her Insta feed into a goldmine of fashion inspo. For her latest look, the 27-year-old slipped into six yards of grace and looked straight out of a royal fairytale. Let’s break down her saree look and steal some style tips for your ethnic wardrobe. Hania Aamir stuns in lavender saree
On Monday, Hania took to Instagram and uploaded a series of gorgeous snaps accompanied by the caption “gave mermaid.” Draped in a dreamy lavender saree, the star looked absolutely breathtaking while serving some striking glam poses. Let’s take a moment to soak in her ethereal beauty.
Hania’s saree is crafted from luxurious tissue fabric and features intricately embroidered borders, showcasing stunning zari work, beads, and sequin detailing throughout. Draped to perfection, she let the pallu elegantly cascade from her shoulder, adding a regal charm to her look. She teamed it up with a matching embroidered blouse, complete with delicate handmade tassels at the back.
How much does her saree cost?
Can’t stop swooning over Hania’s gorgeous saree? We’ve got all the details you need to add this stunner to your collection. Her six yards is straight from the shelves of ace designer Manish Malhotra and is priced at ₹3,95,000.
Hania accessorised her ethnic look with dazzling diamond jewellery, including statement drop earrings, a chic choker necklace, a sleek bracelet, and a stunning ring adorning her finger. Her dewy makeup featured shimmer eyeshadow, winged eyeliner, mascara-coated lashes, blushed cheeks, a luminous highlighter, and glossy nude lipstick. With her long, luscious tresses left loose in a side partition, she perfectly finished off her look.
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Lifestyle
Dimple Kapadia’s “excellent” natural haircare components are the keys to her most beautiful hair: Egg with onion juice
Celebrities’ haircare secrets are always a mystery; but we’ve got the scoop. Here are some tips from veteran actor Dimple Kapadia, known for her luscious hair.
Ever wondered what the secret to Dimple Kapadia’s ‘glossy and shiny’ locks is? You’re in luck as the Bollywood A-lister shared the haircare tips and tricks she’s picked up over the years in a 2021 interview with Vogue India, and they are pretty much the best hair care advice you will ever get. The best part? Dimple’s inexpensive haircare tips could help you achieve healthy, beautiful locks without breaking the bank. Also read | What Sharmila Tagore does for ‘radiant, naturally glowing skin’ at 79: Her top 3 traditional Indian skincare ingredients
‘Oil your hair and do not colour it’
Speaking about her ‘glossy and shiny’ hair, the actor credited the ‘habit of oiling’ that started in her childhood, and said, “Oiling goes a long, long way. I oil my hair overnight, then get a head massage with a homemade hair pack, which is a mixture of eggs (5 whites and a whole egg) and a banana. I leave it on for 10-30 minutes and then wash it through with lukewarm water… the habit of oiling was prevalent throughout my childhood, and it helped as I have always had very dry, thick and coarse hair. Without the amount of professional styling I’ve had over the years, it would not look so glossy and shiny.”
‘Onion juice is excellent for the hair’
Dimple, 67, added, “My secret hair oil recipe is a concoction of almond and sandalwood oil as a base, with geranium, rosemary and lavender essential oils. This is the legacy I’ll pass down to my grandchildren – oil your hair and do not colour it… onion juice is excellent for the hair but I think, the safer option is to use the onion extract oils you get now.”
Diet for healthy hair
Dimple’s healthy hair diet included fish that can provide essential nutrients for promoting hair growth and maintaining healthy locks. The actor said that she ‘ate a lot of fish growing up’ as her family lived in a coastal area, adding that ‘really helped’ her hair.
Dimple suggested that you ‘include lots of protein in your diet, eat balanced meals and include seeds and nuts’ to provide your hair with the essential nutrients it needs to stay healthy, strong, and beautiful.
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Health
Knowing the main distinctions and risks between HMPV and COVID-19.
As India logs 5 cases of HMPV, here’s all you need to know about how human metapneumovirus is different from Covid-19 and warning signs to watch out for.
HMPV virus is not a novel virus – it was first isolated in 2001 by Van den Hoogen and her colleagues in Netherlands in the nasopharyngeal secretions of children with respiratory tract infections. The virus was named human metapneumovirus because it was a metapneumovirus that used humans as a host.
The human metapneumovirus (hMPV) is a common respiratory virus that typically causes mild cold-like symptoms. Studies show it has circulated in human populations since the 1970s, though it was first identified by scientists in 2001.
The virus accounts for 4-16% of acute respiratory infections globally, with cases usually peaking between November and May. While most adults have developed immunity through previous exposure, hMPV can cause more severe symptoms in infants encountering it for the first time and in people with weakened immune systems.
In an interview with HT Lifestyle, Dr Sangeeta V Budur, Consultant – Paediatrics and Paediatric Intensive Care at Aster RV Hospital, shared, “It is known to cause a range of illnesses from mild upper respiratory infections to severe pneumonia , bronchiolitis and acute respiratory distress syndrome. About 5 to 25% of the acute pediatric lower respiratory tract infections are associated with HMPV. The viral outbreaks peak in winter and spring season in northern hemisphere and June and July in southern hemisphere.”
Who are the vulnerable population?
Dr Sangeeta V Budur revealed, “No age group is immune to the virus, reinfection occurs throughout the life but subsequent infections are mild. Infants, children under 2 years, elderly, Immuno-compromised persons or those with underlying chronic medical conditions are more vulnerable to the severe disease. The HMPV infection appears to be ubiquitous, as virtually all children are exposed by the age of 5 years.”
How does it spread?
According to Dr Sangeeta V Budur, just like any other respiratory illness, HMPV spread via respiratory droplets i.e. coughing, sneezing or contact with infected secretions.
How is it different from Covid -19 ?
Dr Sangeeta V Budur informed, “Both viruses cause minor respiratory symptoms in most of the infected people but Covid -19 has a broader spectrum of symptoms involving multiple body systems and a higher potential for systemic complications. The comparison between the two viruses is difficult though the spread is through the droplets via the respiratory route in both. HMPV is less transmittable and has less severe symptoms as compared to Covid-19.”
What are the symptoms of HMPV virus?
Dr Sangeeta V Budur answered, “Most of the symptoms are mild flu like lasting 5- 7 days requiring outpatient visits. But in children under five , HMPV is responsible for 3-10% of hospital admissions. Among the hospitalized children high grade fever, respiratory distress, wheezing rare the predominant symptoms.”
What are the respiratory illnesses caused by HMPV?
As per Dr Sangeeta V Budur, HMPV is mainly known to cause upper respiratory tract infection in most of the children but bronchiolitis, severe pneumonia, acute respiratory distress syndrome in few which require hospitalization, oxygen therapy including mechanical ventilation.
How to diagnose HMPV infection?
Dr Sangeeta V Budur highlighted, “Diagnosing HMPV based solely on symptoms is difficult, as it mimics other respiratory infections like respiratory syncytial virus( RSV) and influenza. PCR testing on nasopharyngeal secretions for detecting HMPV RNA is the gold standard. In India, surveillance systems like ICMR and the Integrated disease surveillance Programme( IDSP) regularly test for respiratory viruses including HMPV.”
What are treatment options for HMPV?
There is no specific antiviral drug available. Dr Sangeeta V Budur said, “Treatment is mainly symptomatic and supportive with antipyretics and antihistaminics. Hospitalised children may need oxygen therapy , nebulizations and rarely mechanical ventilation among the severely infected.”
What are preventive measures for HMPV?
As of now there is no targeted therapy/vaccine available for HMPV. Dr Sangeeta V Budur suggested, “Proper hand hygiene – washing hands frequently with soap and water for at least 30 seconds. Cough etiquette such as covering the nose and mouth while sneezing and coughing, wearing a mask can limit the spread of the virus. Avoiding close contact with infected individuals, regularly disinfecting touched surfaces are additional measures.”
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