Pakistan Crisis: There was no positive result of talks with IMF, will Pakistan’s situation worsen?

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Pakistan Economic Crisis: Pakistan is going through a huge economic crisis and the rupee in the country has reached a historic low of 275 against the US dollar. Inflation in Pakistan has risen to over 27 percent and foreign exchange reserves are at their lowest level since 1998. Amidst all this, talks with the International Monetary Fund (IMF) by the Government of Pakistan to get $1.1 billion in funds have not yielded any positive result, which has worsened the situation further.

Know what the PM of Pakistan said.

Pakistan Prime Minister Shehbaz Sharif said earlier this month that the IMF’s demand was beyond imagination, as the country is dealing with the aftermath of last year’s devastating floods. But a decision could not be taken even after IMF staff-level discussions on the $6.5 billion loan programme, which has moved beyond its scheduled end date of February 9.

There was no result of talks with the IMF.

According to Pakistani media reports, a team of IMF visited Islamabad for 10 days. Finance Minister Ishaq Dar led the Pakistani side during the agreement. The IMF team has been in Pakistan for 10 days, but there was no result of the discussions being held by both the sides. Finance Minister Ishaq Dar requested the IMF mission chief to remove the terms of defense budget cuts, then the IMF chief stopped the talks and decided to leave Pakistan without signing the agreement.

Economic crisis increased in Pakistan

Let us tell that the economy of Pakistan is in serious trouble. Affected by the balance of payments crisis and high levels of external debt. Meanwhile, Pakistan’s foreign exchange reserves declined by 5.5 percent or $170 million to $2.91 billion on February 3, including $5.62 billion in commercial banks. State Bank of Pakistan gave this information on Thursday. Local Daily News reported that there is a total reserve of $8.54 billion left in the country.

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