Inflation has risen to a 48-year high in crisis-hit Pakistan, where the International Monetary Fund (IMF) is visiting for urgent talks, according to data released on February 1 by the country's statistics bureau. Year-on-year inflation in January 2023 was recorded at 27.55 percent, the highest since May 1975, with thousands of containers of imports held up at Karachi port. Pakistan's economy is in dire straits, stricken by a balance-of-payments crisis while it attempts to service high amounts of external debt.
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