Double whammy on Pakistan, foreign exchange reserves fell in repayment of loan installment


Double whammy on Pakistan, foreign exchange reserves fall in repayment of loan installment - India TV Hindi

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Double whammy on Pakistan, foreign exchange reserves fall in repayment of loan installment

Pakistan Economic Crisis: Poor Pakistan has become dependent on food and drink. There is no money left to run the country. It has become a compulsion to take loan even to repay the loan. Pakistan is not able to think of any way to overcome this new problem. Amidst all this, recently Pakistan has paid an installment to repay the old debt. After this, the foreign exchange reserves of this country have remained less than 3 billion dollars. Which is a danger bell for Pakistan.

Pakistan’s foreign exchange reserves are reduced to $2.9 billion

The government of Pakistan recently repaid an installment of the old loan, after which their foreign exchange reserves have increased to $ 2.9 billion.

According to the Pakistani newspaper ‘Dawn’, the State Bank of Pakistan (SBP) has released the data and told about the decline in foreign exchange. Already pleading with the IMF for a bailout package, the decrease in Pakistan’s foreign exchange reserves is a matter of concern for them.

Pakistan had one hope of getting help from the International Monetary Fund. But that too is in cold storage. Pakistan has been continuously demanding the IMF for a bailout package. But the IMF has put forward some such strict conditions, which Pakistan is currently not in a position to accept.

IMF put these two big conditions in front of Pakistan for loan

The two biggest conditions that the IMF has placed in front of Pakistan. One of them is to increase the electricity bills by reducing the subsidy. On the other hand, the second condition is that the government of Pakistan will have to share the property information of all its officers above grade 17 with the IMF. It is not easy for Pakistan to accept both these demands of the international body.

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