The COVID-19 pandemic has been a blow to Pakistan’s economy, which had already slowed down considerably after experiencing a twin-deficit crisis in 2018. The impact of the pandemic prompted Prime Minister Imran Khan’s government to roll out a massive stimulus, seek international debt relief, and suspend the IMF program. In the last few weeks, the economy has started to recover, and the country is set to restart the suspended IMF program in the coming days. Additionally, with the new Biden administration, Pakistan is seeking to redefine its bilateral relationship with the United States on geoeconomics terms, as it attempts to shrug off the pandemic’s debilitating economic effects.

On April 6, USIP hosted a discussion that assessed the economic impact of the COVID-19 pandemic on the Pakistani economy, explored the outlook for reforms, and surveyed how international investors, especially U.S. companies, view the Pakistani economy and investment prospects.

Continue the conversation on Twitter with #EconOutlookPK.

Speakers

Khurram Husain
Economic writer, Dawn

Safiya Ghori-Ahmed
Director, McLarty Associates

Naila Naqvi
CEO, Pie in the Sky

Uzair Younus, moderator
Visiting Senior Policy Analyst, South Asia Program, U.S. Institute of Peace

Related Publications

Toward a Durable India-Pakistan Peace: A Roadmap through Trade

Toward a Durable India-Pakistan Peace: A Roadmap through Trade

Thursday, June 27, 2024

Despite a three-year long cease-fire along their contested border, trade and civil society engagement between India and Pakistan has dwindled, exacerbating the fragility of their relationship. With recently re-elected governments now in place in both countries, there is a window of opportunity to rekindle trade to bolster their fragile peace, support economic stability in Pakistan, create large markets and high-quality jobs on both sides, and open doors for diplomatic engagement that could eventually lead to progress on more contentious issues.

Type: Analysis

Economics

How Have India’s Neighbors Reacted to Its Election?

How Have India’s Neighbors Reacted to Its Election?

Tuesday, June 25, 2024

Narendra Modi was sworn in on June 9 for his third consecutive term as India’s prime minister. Public polls had predicted a sweeping majority for Modi, so it came as some surprise that his Bharatiya Janata Party (BJP) lost ground with voters and had to rely on coalition partners to form a ruling government. Although India’s elections were fought mainly on domestic policy issues, there were important exceptions and Modi’s electoral setback could have implications for India’s regional and global policies.

Type: Analysis

Global Elections & ConflictGlobal Policy

What Does Further Expansion Mean for the Shanghai Cooperation Organization?

What Does Further Expansion Mean for the Shanghai Cooperation Organization?

Thursday, May 30, 2024

Last week, foreign ministers from member-states of the Shanghai Cooperation Organization (SCO) gathered in Astana, Kazakhstan. The nine-member SCO — made up of China, India, Russia, Pakistan, Iran, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan — represents one of the largest regional organizations in the world. And with the SCO’s annual heads-of-state summit slated for early July, the ministers’ meeting offers an important glimpse into the group’s priorities going forward. USIP’s Bates Gill and Carla Freeman examine how regional security made its way to the top of the agenda, China’s evolving role in Central Asia and why SCO expansion has led to frustrations among member states.

Type: Question and Answer

Global Policy

View All Publications