“The outbreak of COVID-19 is having a significant impact on the Pakistani economy. The domestic containment measures, coupled with the global downturn, are severely affecting growth and straining external financing. This has created an urgent balance of payments need,” said Executive Board First Deputy Managing Director and Acting Chair Geoffrey Okamoto.
Pakistan has recorded just over 100 deaths but experts have voiced fear that the country of 215 million people could see a rapid and devastating increase due to its shortage of medical infrastructure and crowded cities.
Worried about hurting an already weak economy, Prime Minister Imran Khan has resisted a sweeping, nationwide lockdown but provinces have shuttered schools and companies.
Pakistan is a longtime recipient of help from the IMF and is already under a three-year, $6 billion program that was approved last year.
