Pakistan Crisis: Pakistan’s problems are increasing instead of decreasing. Pakistan, expecting financial assistance from the World Bank, has suffered another setback. This is because there is a delay in the help Pakistan gets from the World Bank, due to which the situation is getting worse.
According to media reports, the World Bank has postponed the approval of this loan for the next financial year. There was news that the World Bank would give a loan of $1.1 billion to Pakistan. With the help of this loan, Pakistan could have got a big relief. If reports are to be believed, these loans are stuck since June 2022. Now a decision will be taken on this in April this year itself.
Pakistan is getting relief
Significantly, Pakistan, which is facing cash crisis, has been continuously extending its hand to the World Bank, International Monetary Fund and many countries for financial help, but relief is not visible. Earlier, the United Arab Emirates (UAE) extended a helping hand to the country. UAE has decided to give a loan of two billion dollars to Pakistan. It is believed that with this help, it is expected to rebuild foreign exchange reserves and ease imports.
It has been said by the Central Bank of Pakistan that the country’s foreign exchange reserves have reached $4.3 billion, leaving only import money for three weeks. Let us tell you that there has been a sharp decline in foreign exchange reserves in the recent months. Because of this, the danger of becoming a pauper has increased on Pakistan.
Earlier, the International Monetary Fund (IMF) postponed the decision on approving two loans of $ 1.1 billion. According to a report, the Government of Pakistan had sought help from the IMF, but in return, the IMF placed a condition of increasing the prices of petrol and diesel. In view of the upcoming elections, the Shahbaz Sharif government is not in a mood to increase the prices.
read this also: PM Shehbaz Sharif: Married five times, divorced thrice… Know about the 5 wives of Shahbaz Sharif
