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Pakistan may go bankrupt if it doesn't get four billion dollar loan from IMF.
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World

Pakistan may go bankrupt if it doesn't get four billion dollar loan from IMF.

India is gradually showing its image in a more mature way in the world court. On the other hand, one of India's most hostile countries may soon declare itself bankrupt. The current government of that country is unable to provide food for the people of their country. Pakistan, which was threatening... more

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20 Jun 2023

India is gradually showing its image in a more mature way in the world court. On the other hand, one of India's most hostile countries may soon declare itself bankrupt. The current government of that country is unable to provide food for the people of their country. Pakistan, which was threatening to attack India a few months ago, is now begging for money from various countries to save itself from bankruptcy. But no country has come forward to help the duplicitous Pakistan, not even Pakistan's beneficent friend China.

 

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Only 11 days' worth of foreign currency is left in the country's currency reserves. In such a situation, Pakistan finally approached the International Monetary Fund (IMF) to save itself from bankruptcy. If Pakistan does not get a package of 4 Arab dollars from the IMF, then Pakistan will sit on the way. Already for the past few months, Pakistan was suffering from a severe food crisis due to a financial crisis, and now their situation is more critical.

 

The International Monetary Fund (IMF) has already refused to give any loans to the duplicitous Pakistan. According to the IMF, no loan will be provided until the political unrest in Pakistan and the influence of the military on the country's government are mitigated. In such a situation, Pakistan has only two options - first, to reduce the military's influence on the country's government by complying with IMF conditions as soon as possible. If the condition given by IMF is accepted, there is a possibility that Shahbaz Sharif may be ousted from power under the harsh eyes of the army.

 

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Second, to seek help from its allies to save itself from bankruptcy. Saudi Arabia, China, and Turkey are prominent in the list of allies to help Pakistan. However, Turkey's economy is currently going through an extreme crisis. Because of that naturally Turkey cannot be expected to help Pakistan. Arabs and China remained. China has already started pressuring Pakistan to repay the installments of its earlier loans. On the other hand, Saudi Arabia promised a package of 3 Arab dollars to Pakistan last month, but it has not yet been implemented.

 

Now June 30 is a very important day for Pakistan because on this day the old terms of IMF to Pakistan will expire. In such a situation, if Pakistan does not receive any loan from the IMF by October, then Shahbaz Sharif will not be able to save himself from bankruptcy.

 

 


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