World Bank says Pakistan must take urgent action to avert economic crisis

The Associated Press ,  Islamabad   |  Thu, 03/27/2008 4:46 PM

The World Bank says Pakistan must take rapid action to avert an economic crisis.

World Bank Vice President Praful Patel said Thursday that Pakistan would likely miss targets for its budget and current account deficits. He says strong economic growth can only continue if it adjusts to higher global prices for energy and food commodities.

He says it will also need international supportto prevent the economy from faltering.

Pakistan's new prime minister is expected to announce steps to address problems including food inflation and energy shortages on Saturday. (*)

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