When Pakistani Prime Minister Imran Khan became Prime Minister, he had shown different dreams to his countrymen. He made many promises to Pakistan that stood in the way of destruction. However, even after a long time in creating the government, Imran Khan has not been able to protect his country from various problems. The nation’s debt is increasing every day, which is why many countries are beginning to think a hundred times before lending. Due to the cash crunch, Imran Khan cannot do anything to strengthen Pakistan’s infrastructure or do anything special for the public. Now and again, they need to spend money by asking for a loan. Pakistan has signed a $ 500 million loan agreement with the International Monetary Fund (IMF).
The IMF and Pakistan’s Foreign Ministry reported on the deal. Foreign Minister Dr Hafeez Sheikh tweeted that unified efforts are needed to address the challenges posed by the corona epidemic. This agreement is very important for the development of Pakistan. At the same time, the IMF has stated that the package balances between supporting the economy, ensuring debt stability and pushing structural reforms. The fund confirmed the deal was 500 million.
“Pakistan’s progress under the Extended Fund Facility (EFF) has been temporarily hampered by the epidemic,” the IMF said in a statement. Pakistani authorities are committed to ambitious policy measures and reforms so that economic resilience is strengthened, sustained growth is achieved, and objectives are achieved through EFFs within the stipulated time. ”
Pai-Pai Attracted From Pakistan, Imran Khan Running The Country With Loan Debt, Loan Of 5 10.5 Billion In 2019-20
At the same time, Pakistan’s Minister of Industry and Production, Hammad Azhar, responding to the deal, said that Pakistan’s economy had gone through a phase of stabilization. Even during the shock of the Kovid-19, our economy has overtaken most countries and is now geared for growth. On the deal with the IMF, he said it would provide certainty and buffer to the economy.
Let me tell you, Pakistan is badly trapped in the Beld and Road Initiative soggy. As for power projects, Pakistan, which has been borrowing heavily from China over the past 8 years, is no longer able to pay installments. In such a situation, they are now ready to seek redress from their alleged friends. Pakistan and China have held informal discussions on compensation for repayment of loan installments to about a dozen power plants. At the same time, after the economy and debt have surrounded their own country, the Imran government has been blaming previous governments for this. At the end of September 2020, Pakistan’s total debt and liabilities reached 44,801 billion (0 280 billion) rupees in Pakistan. Subsequently, an increase of 245 billion was recorded in three months.
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