PTI founder admits govt saved Pakistan from default

The founder of Pakistan Tehreek-e-Insaf (PTI) acknowledged on Thursday that the government had successfully averted Pakistan’s default.

While speaking to journalists at Adiala Jail during a court hearing, PTI founder was asked about the government’s economic performance. A journalist inquired, “Do you agree the government has stabilized the economy?” Khan responded, “The government saved the economy from the brink of default.”

However, Khan noted that despite avoiding default, the economy had not yet achieved prosperity.

In 2023, economic experts credited Pakistan’s agreement with the International Monetary Fund (IMF) for averting default and boosting investor confidence in the stock market.

“The bullish trend in the market is likely to last at least 10 days. It will strengthen the rupee, attract investments, and create room for the incoming government to address the crisis,” experts said in their analysis.

Economic expert Mohammad Suhail commented that the IMF deal exceeded expectations and would support the next government in managing the economic challenges. Similarly, Abid Sulehri highlighted that the agreement had restored investor confidence and predicted a continued bullish trend in the stock market.

Samiullah Tariq, another expert, remarked that the IMF agreement had sparked investor interest, which would help the rupee appreciate by five to seven units against the US dollar.