The Latest: Pakistan budget deficit could reach record level [ABC News]
Lam Research Corporation (LRCX)
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Source: ABC News
The Latest on thecoronavirushealthTOP OF THE HOUR:— China, Europe show that restarting virus-hit economies is not easy.— IMF warns that Pakistan's budget deficit could reach record levels.— Australia is planning for business-as-usual week of Parliament in May.———ISLAMABAD — The International Monetary Fund warns Pakistan’s budget deficit could reach record levels hitting 4 trillion Pakistani rupees ($23.7 billion) this year because of the coronavirus pandemic, accounting for nearly 9.2% of gross domestic product.The grim statistics were laid out in an IMF report released this week, just days after Pakistan’s Prime Minister Imran Khan issued a global appeal to the world’s richest countries and international lending institutions to provide debt relief to the developing world, already coping with devastated economies further crippled by the virus.The IMF has already announced 25 countries would be given debt relief, but Pakistan was not among the 25.Pakistan on Thursday recorded 6
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