The IMF, which thawed after Pakistan's collapse, approved another loan of $3 billion

(image : wikipedia and Twitter)

Islamabad, dated 30 June 2023, Friday

Poor Pakistan's pleas to the IMF have finally worked. The IMF (International Monetary Fund) has now announced to help Pakistan with 3 billion dollars. Thus, the danger of Pakistan being declared bankrupt has been averted for now.

In 2019, the IMF gave a loan to Pakistan for the 21st time and this time limit was ending on June 30. If the IMF had not given more loans, Pakistan's problems could have increased. There is also a situation like unemployment and hunger in the country and people's problems are increasing due to bankruptcy. There was also fear that people in Pakistan would rebel against the government like in Sri Lanka.

This three billion dollar loan is a standby agreement. It is yet to be approved by the IMF board. However, it is certain that the board will also approve it.

The IMF board is scheduled to meet in July to decide whether the deal is approved or not.

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