Pakistan Economic Crisis News In Hindi: IMF Raises Objection To Pakistan Budget Moody’s Warn On Bailout Dollar Reserves Weak
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Moody’s has given this warning at a time when the Shahbaz government is proving to be a failure in repaying foreign loans. Moody said that Pakistan could default if the $6.7 billion bailout package is not received. Analyst Grace Lim in Singapore said that there is an increasing risk that Pakistan will not be able to meet the IMF program which is going to end at the end of June. Lim said that Pakistan could default without the IMF program. Pakistan also has very little foreign exchange reserves left.
dollar reserves in pakistan
Pakistan is making its last effort to somehow persuade the IMF. There is a gap of $ 2 billion in Pakistan’s financing and the exchange rate policy is also a major obstacle in the path of this package. The government of Pakistan is claiming that it will meet the debt liability but investors are still scared. Pakistan has returned a Chinese loan of $ 1 billion, which has brought its foreign exchange reserves below $ 3 billion.
Pakistan has to return foreign debt of $ 23 billion in the year 2023-24. This is more than 7 times its total foreign exchange reserves of $ 3 billion. There is a large amount of Chinese debt in this. Meanwhile, the Pakistani rupee is also under constant pressure against the dollar. To overcome this crisis, now the government of Pakistan is once again going to request China for a loan. The political situation in Pakistan is bad and inflation is at its peak. Due to this, the public is not getting proper food.
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