Trending news: Fatheal Pakistan got a big blow from IMF too! Know why could not get loan

Islamabad. Pakistan is currently passing through an economic crisis. The political leaders of this impoverished country have appealed to countries all over the world for financial help. Even after this, the situation here has remained worse. Pakistan has got the latest blow from the IMF. The IMF has rejected the claim of Pakistan, in which it claimed to have fulfilled all the conditions of the International Monetary Fund. After this, now it has become difficult for Pakistan to get loan from IMF as well.

Significantly, Pakistan has been struggling with lack of money continuously for some time. The IMF had signed an agreement in 2019 to give six billion dollars to Pakistan on certain conditions. This scheme got derailed several times and the full payment has not yet been made. The reason behind this is that the IMF wants Pakistan to follow all the conditions. Prime Minister Shehbaz Sharif and Finance Minister Ishaq Dar have repeatedly claimed that Pakistan has fulfilled all the conditions for reaching the agreement and there is no reason to back out of the agreement.

According to The Express Tribune newspaper, he has received a statement from the IMF on Friday. In this, it has rejected the claim of the Government of Pakistan after completing all the formalities required for the ninth review. The first installment of the loan amount sanctioned by the IMF to Pakistan is still pending. The bailout program set by the IMF for Pakistan in 2019 will be completed in June. If the loan installments are not released by then, then the existence of this program will end.

It has been told that in the ninth meeting, the IMF put some tough conditions in front of Pakistan and there was a dispute regarding this. On the question of this meeting, IMF’s Pakistan Mission Chief Nathan Porter says that the review process is going on. Meanwhile, news is also coming that the IMF has asked the Government of Pakistan to discuss with it the proposed budget for the first financial year 2023-24.

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Tag: imf, Pakistan, Shahbaz Sharif, world news