pakistan economy (symbolic picture)
Islamabad: Pakistan is proving to be a complete failure on the economic front. Inflation is at its peak and common people are in distress. In such a situation, the International Monetary Fund (IMF) has now said that Pakistan is facing big challenges in repaying its debt. Along with this, the global financial body has expressed doubt on the ability to repay the debt of the country which is suffering from cash shortage. This information was given in a media report on Saturday.
IMF team has reached Pakistan
The Washington-based bank’s assessment of Pakistan’s economy comes at a time when the IMF assistance team arrived here on Friday to hold talks with officials. Islamabad had requested a fresh relief package under the Extended Fund Facility (EFF). The IMF team has come to discuss this request.
This was said in the report
Geo News, in its report on Pakistan released earlier this month, had quoted the IMF as saying that Pakistan’s ability to repay its debt is subject to serious risks. In particular, delays in the adoption of reforms, high public debt, gross financing needs and socio-political factors – could jeopardize policy implementation, the report said.
What does Pakistan want?
Recently, Pakistan had received the last tranche of the $3 billion bailout package from the IMF, due to which it was saved from default. After the completion of the bailout program, Pakistan Prime Minister Shahbaz Sharif has once again appealed to the IMF to save the country. The Shehbaz government has stressed the need for a long-term relief program from the IMF to get Pakistan out of the economic crisis. (Language)
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