The Asian Development Bank (ADB) today warned Pakistan that its economic stability and progress would be negatively impacted by the political turmoil due to ongoing anti-government protests.
"If these protests prolong and continue there will be more damage but if they are solved quickly, the damage would be more managed," Asian Development Bank (ADB) President Takehiko Nakao said while addressing a press conference with finance minister Ishaq Dar.
The ADP top official also said that democracy should continue after last year's first ever peaceful democratic transition of power in Pakistan.
Nakao praised the government of Prime Minister Nawaz Sharif for improving the macro-economic outlook and pursuing a liberal economic agenda.
"Today the growth rate is picking up, the inflation rate is becoming more managed, and foreign reserves (too increased) and the exchange rate is becoming stabilised which is really a remarkable achievement by the government," he said.
ADB is already set to provide Pakistan USD 5 billion over five years and Nakao said that the bank will provide assistance to deal with the devastations of the recent floods.
Cricketer-turned-politician Imran Khan and fiery cleric Tahir-ul-Qadri have been protesting since last month demanding Sharif's ouster.
Sharif has promised to accept their demands to reform the political system but has refused to resign.
The government has already said that the country had suffered losses worth billion of rupees due to the protests.
A crucial visit by Chinese President Xi Jinping this week was also cancelled due to the political unrest.
Xi was set to sign agreements worth USD 34 billion, according to the government.
