Pakistan Economic Crisis: After Saudi, this Muslim country can give $ 1 billion to Pakistan, will Jinnah’s country be saved from default? – pakistan economic crisis pakistan moves closer to securing imf deal as uae to commit funds soon

Pakistan Economic Crisis: After Saudi, this Muslim country can give $ 1 billion to Pakistan, will Jinnah’s country be saved from default?  – pakistan economic crisis pakistan moves closer to securing imf deal as uae to commit funds soon

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Islamabad: A good news can come from United Arab Emirates for poor Pakistan. UAE can provide financial assistance of $ 1 billion to Pakistan which is on the verge of default. Earlier, Saudi Arabia had announced to give $ 2 billion. The International Monetary Fund had placed a condition before giving the latest installment of loan to Pakistan that if these two countries give $ 3 billion, it would release the money. If Pakistan gets timely loans from IMF, Saudi Arabia and UAE, then Pakistan will be saved from default. According to the report of Pakistani TV channel Geo News, UAE can give a written guarantee of $ 1 billion help to Pakistan this week. After that Pakistan will inform the IMF officials in Washington. The IMF had asked Pakistan to ask its friendly countries and multilateral allies to provide financial assistance before June. Earlier last week, Saudi Arabia had promised to give $ 2 billion.

There is a war going on for flour in Pakistan

Even after this, the IMF agreement was stalled due to UAE not giving money. According to sources, talks with UAE have been completed and soon Pakistan will get a written guarantee. It will also be reported to the IMF. The development took place at a time when Pakistan’s Prime Minister Shehbaz Sharif and Finance Minister Ishaq Dar had requested the UAE authorities to save Pakistan from default by giving a loan.

There is a terrible situation in Pakistan due to economic crisis and banana is being sold for Rs.600 a dozen. There is a war like situation in the country for flour and many Pakistanis have lost their lives. This is one of the biggest economic crisis in the history of Pakistan. Meanwhile, the IMF has reduced the estimate of its growth rate due to the dire economic condition of Pakistan. Pakistan does not have dollars due to which it is not able to unload the goods from the port after ordering them from abroad. Due to this lakhs of people have become unemployed.

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