IMF gave a blow to poor Pakistan, said- Shahbaz government should arrange $ 8 billion first

islamabad : The people of economically devastated Pakistan are facing the brunt of inflation and poverty. It is almost impossible for the rulers of Pakistan to fulfill the condition set by the IMF for financial assistance to Pakistan. However, the people there will have to pay the price. What is the whole matter, see in this report.

Pakistan’s economy has collapsed due to the corruption and mismanagement of the rulers. Pakistan cannot run without foreign help. Many countries have refused to give new loan to Pakistan. Pakistan’s hope now rests on the IMF. However, in view of the situation in Pakistan, the IMF has also put its bailout package on hold for a long time.

After persistent requests from the rulers of Pakistan, the IMF is ready to give the package, but for this the IMF has placed a condition before the rulers. According to this condition, Pakistan will have to repay the external debt within the next seven months. For this, Pakistan has been asked to arrange $8 billion. If Pakistan does this, it can get a bailout package of $ 6.5 billion from the IMF.

Although it is not easy for Pakistan to accept this condition. Pakistan has foreign exchange reserves of $4 billion, from where will it repay its $8 billion debt.

Another difficulty is that the rulers of Pakistan have to take tough decisions on the economic front to get the IMF bailout package. However, Pakistan has already taken these steps, including raising interest rates. This is the reason why inflation is skyrocketing in Pakistan. People are scrambling for the necessities of life. If a tough decision is taken on the economic front, civil war will break out now. The stage has been set for this after the arrest of Imran Khan.

The economic condition of Pakistan has reached its lowest point. The Pakistani rupee has reached a low of Rs 300 against the dollar. Foreign exchange reserves reached a record low of $4.5 billion. Due to which only one month can be imported. The country is buried under the burden of a foreign deity. The inflation rate is more than 35 percent. In view of this, rating agency Moody’s has warned Pakistan of bankruptcy. Recent violent protests among the people struggling with rising inflation have added to Pakistan’s difficulties.

However, the rulers of Pakistan do not stop singing the Kashmir raga. Instead of getting the country out of the economic crisis, Foreign Minister Bilawal Bhutto is busy meeting separatist leaders of PoK. Bilawal’s crocodile tears are good for the people of Kashmir, but he is not concerned about the hungry people of his country. Now it has to be seen who saves Pakistan on the economic front.