IMF has taken a tough stand on Pakistan, will have to wait for the loan

IMF has taken a tough stand on Pakistan, will have to wait for the loan

Pakistan's economy, which is facing a shortage of money, may collapse further in the coming days. Pakistan may have to wait longer to get a bailout package from the International Monetary Fund (IMF). This time the IMF has taken a tough stand against Pakistan. Pakistan's Prime Minister Shahbaz Sharif has blamed the previous governments for bringing the country to a state of disrepair in 75 years of independence.

Previous governments are responsible for the economic plight

Pakistan's Prime Minister Shahbaz Sharif has very little time left to bring the country's economy back on track. He has blamed the previous governments for bringing the country's economic condition to a deplorable state in 75 years. Addressing the media after visiting the flood-affected areas due to heavy rains in the country, Prime Minister Sharif asked, "What have we done after 75 years of our independence, due to which we have become slaves of the IMF."

delay in getting relief package

The Pakistani government was expected to get a relief package from the IMF at the end of June, but Pakistan may now have to wait till the end of this month to get the relief package. Islamabad has raised taxes and scrapped fuel subsidies amid inflationary pressures. According to the Pakistani newspaper The Express Tribune, the IMF has said that by the end of this month, the US $ 1.2 billion will be given as a relief package.

Relief package already received

Islamabad had signed a program with the IMF in 2019 for a loan of US $ 6 billion under the Extended Fund Facility. Imran Khan, then the current Prime Minister, refused to increase the electricity rates on the people of Pakistan and increase the tax set by the IMF, after which the IMF released about three billion US dollars to Pakistan in January 2020 for this program. banned.

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