Pakistan IMF Deal News: Moody & Fitch Warn Of Risks Despite IMF Deal Setback To Shahbaz Sharif
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These global rating agencies told that Pakistan has to repay the loan of $ 25 billion in this financial year itself. This is 7 times more than the current foreign exchange reserves of Pakistan. This is much more than Pakistan’s recently approved IMF loan of $ 3 billion. He said that even though the IMF has assured financial assistance to Pakistan, there is a danger that it may prove to be insufficient. That too when the current account deficit has become huge.
Question mark on Imran Khan’s future
Meanwhile, it is being told that the Government of Pakistan has accepted many stringent conditions of the IMF, the consequences of which the people there may have to bear in the coming days. Energy prices in Pakistan can increase significantly. Apart from this, the Shahbaz government will also increase the tax rate. Apart from this, the government has also been asked to reduce the expenditure. If Pakistan does not do this, it will be difficult for it to get the full $3 billion loan from the IMF.
Elections are going to be held in Pakistan in the month of October. There is very little chance left for Imran Khan to participate in the election. Analysts say that in view of this general election, it is difficult to say that Shahbaz government will implement tough reforms in the country. Imran Khan is constantly pleading with the world to save democracy in the country. On the other hand, the Shahbaz government and the Pakistan Army have stepped up preparations to prosecute Imran Khan in the army court for the May 9 violence. Many analysts say that Imran Khan will be banned before the elections so that he cannot contest the elections.
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