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Pakistan Economic Crisis: In Pakistan, which is facing political crisis, economic crisis is also increasing for a long time. In view of this, the International Monetary Fund (IMF) is going to hold a board meeting with Pakistan facing the crisis. The IMF chief informed that this meeting is to be held before the end of the financial program at the end of June. He told that for the review meeting of this program first staff level agreement has to be done. This meeting of Pakistan with IMF is being held for an agreement of $1.1 billion out of $6.5 billion. This staff level agreement was being postponed from November 2022. After the year 2008, there has never been such a delay in such an agreement.
Pakistan will share budget details
IMF mission chief Nathan Port said that this meeting with Pakistan is being held keeping in mind the financial year 2024. With this, the functioning of the foreign exchange market will run smoothly. According to Reuters report, Pakistan’s Finance Minister Ishaq Dar said that Pakistan will share the details of its budget with the IMF. He said that the IMF should approve the 9th review before the budget of Pakistan is presented. The budget is going to be presented in Pakistan in the beginning of June.
Pakistan’s Finance Minister Ishaq Dar said that the IMF has demanded the budget details of Pakistan, which will be given to them. According to the Finance Minister of Pakistan, if the IMF joins the 9th and 10th review of the bailout together, then it will not be in favor of Pakistan.
What did the IMF say on the political situation?
IMF mission chief Nathan Port said that Pakistan will have to make strong policy reforms to overcome the current economic and financial crisis. At the same time, the IMF chief refused to speak anything on Pakistan’s political crisis. Along with this, referring to the political instability of Pakistan, he hoped that there would be peace with the help of constitution and law.
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