Pakistan's economy faces slump and rising inflation, warns IMF.

The International Monetary Fund (IMF) has lowered Pakistan's growth outlook to 0.5% this year, down from 6% in 2022, and has forecasted 27% inflation for the country. The IMF has also warned that unemployment will continue to rise in Pakistan, which is struggling to avoid a default as it recovers from the destruction caused by last summer's floods. The government has become unpopular due to higher food costs, and it is in talks with the IMF to receive a key tranche of a $6bn bailout package signed in 2019.