Boosting growth in a durable way

Pakistan’s economy remains trapped in a low-growth equilibrium despite improving macro indicators, and according to International Monetary Fund Managing Director Kristalina Georgieva, lower-income countries, despite reform efforts, are in a position where any new shocks would hit them ‘quite negatively’. Oil prices climbed about two per cent to a four-month high last Monday based on expectations that wider US sanctions on Russian oil would force buyers in China and India to seek other sources of supplies. Ms Georgieva said most countries should adopt reforms to boost growth durably, adding that, in many cases, this could be done while protecting their growth prospects.