Pakistan IMF Loan: Bloomberg News quoted a Pakistani official as saying that Pakistan is planning to take a loan of 6 billion dollars from IMF to run the government. This loan will help the new government to be formed in Pakistan in repaying the outstanding debt of billions. Preparations for this have already been intensified.
The report said that Pakistan will negotiate an extended fund facility with the IMF. Negotiations for this loan with the IMF are expected to begin in March or April. It is being told that the new government will have to negotiate on a long-term loan to stabilize the $350 billion economy. Actually, Pakistan is trying to repay the old loan by taking a new loan.
Pakistan had taken loan last year also
Pakistan had also taken a loan from the International Monetary Fund last year, during which the IMF had imposed many conditions on Pakistan. In such a situation, Pakistan had to take many measures according to the IMF. Pakistan had to amend its budget and increase the prices of electricity and natural gas. When Reuters questioned the IMF regarding this loan quoting the Bloomberg report, there was no immediate comment from the IMF. Reuters has also tried to contact the Finance Ministry of Pakistan for comment.
Inflation hits Pakistan
Apart from IMF, Pakistan is also continuously taking loans from China. The condition of Pakistan has become so thin at this time that wherever there is hope of getting a loan, it extends its hand. Pakistan has also recently increased the prices of diesel and petrol. On this issue, Pakistani economist says that the leaders of Pakistan work for immediate relief by taking loans. Until a permanent solution is found, Pakistan will have to continue taking such loans.