Pakistan bowed down before IMF, will there be good news now? PM Shahbaz Sharif made this big announcement

Photo:AP Pak PM Shahbaz Sharif

Pakistan standing on the verge of bankruptcy may get good news soon. Pakistan’s Prime Minister Shahbaz Sharif said that even the toughest conditions of the International Monetary Fund (IMF) have been accepted for the $1.1 billion tranche of the loan and now it is only a matter of days to reach an agreement with it. Sharif said that his economic team and other national institutions had made joint efforts in this direction.

Talking to Geo News, Sharif said, “The toughest conditions of the IMF have been met and now we will sign the staff-level agreement within a few days.” Finance Minister Ishaq Dar also made similar statements. Have given many times. Pakistan’s economy is under severe stress. The country is eagerly waiting for the $1.1 billion installment from the IMF. This is part of the IMF’s $ 6.5 billion relief package, which was approved by the Monetary Fund in 2019.

Experts say that this amount is very important for Pakistan if it has to avoid defaulting on debt obligations taken from abroad. Sharif said that Pakistan is trying to meet the conditions of the IMF to restore the stalled installment of the loan, in such a situation, the burden on the people already suffering from inflation will increase further. For this, Pakistan has taken many policy decisions like increasing taxes, increasing energy prices, increasing interest rates.

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