Pakistan Economic Crisis: At present, the economic condition of Pakistan is very bad. Nowadays Pakistan is facing problems in every field due to lack of money. Pakistan has a debt of 103 million dollars. Today on February 9, Pakistan’s State Bank of Pakistan (SBP) informed that the new foreign exchange reserves declared after February 3 have come down from $170 million to $2.9 million.
At the same time, talks with the International Monetary Fund (IMF) regarding the release of money under the bailout program are closed. Right now Pakistan is facing hurdles in this regard. IMF has put many conditions in front of the country’s government regarding giving money, which Pakistan is not able to fulfill.
will also help in getting money
A successful outcome with the International Monetary Fund (IMF) will also help in raising money from other platforms which may prove to be right for the lenders. At the same time, in the SBP handout released today, it was said that the reason behind the decrease in foreign exchange reserves is the payment of external debt. Meanwhile, the net foreign reserves held by commerce banks stood at $5.6bn, taking the country’s total liquid foreign reserves to $8.5bn.
Foreign reserves highest since February 2014
According to a report by Arif Habib Limited, the forex reserves were the lowest since February 2014. Earlier, Finance Minister Ishaq Dar said that the matter between the government and the IMF was expected to be resolved today. Cash-strapped Pakistan is in talks with the International Monetary Fund (IMF) to unlock funds from a $7 billion loan designed to stave off an economic downturn. This conversation is to clarify the 9th review of the IMF’s Extended Fund Facility, whose job is to help countries with money problems.
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