The meeting of the Executive Board of the International Monetary Fund (IMF) will be held in Washington on Monday, in which the loan to Pakis...
The meeting of the Executive Board of the International Monetary Fund (IMF) will be held in Washington on Monday, in which the loan to Pakistan will be considered.
According to the report of maknews-21, before the meeting, Pakistan has claimed that it is going to receive at least 37 billion dollars in investment and loan. Pakistan will invest 37 billion dollars, if the IMF Executive Board approves this agreement If he gives, the international organization will immediately provide 1 billion 20 million dollars to Pakistan and will provide 4 billion dollars during the remaining part of this year.
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IMF sources told Dawn that the Executive Board is likely to approve the distribution of the 8th and 9th tranche, which is about one billion 200 million dollars. The IMF said that in Pakistan Not doing so would send the wrong message given the flood situation.
He said that Pakistan had said that it would request the IMF's Rapid Financing Instrument (RFI) for emergency assistance for the flood victims, the cost of which is about $500 million.
It should be remembered that under the RFI, the distribution of one billion 386,600 dollars to Pakistan was approved by the Executive Board on April 2020 to deal with the economic conditions of the country.
According to the American broadcasting organization The Wall Street Journal, international loans and investment agreements of 37 billion dollars have been made towards Pakistan, due to which Pakistan has been saved from going into an economic crisis like Sri Lanka.
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Global media outlets WSJ and Voice of America (VOA) confirmed that the Executive Board will meet on Monday to consider Pakistan's request.
Voice of America reported that in order to save Pakistan from bankruptcy, during the last 6 weeks, China, Saudi Arabia, Qatar, United Arab Emirates borrowed about 1.2 billion dollars for loans, financing, oil payments and investments. But this loan amount will be available only after the IMF board meeting approves the package.
Voice of America reported that according to experts, Pakistan's economy is wide and deep, the country's geographical importance has a special status, due to which the country has been saved from default.
Director of South Asia Programs at the US Institute of Peace, Tamna Salikuddin told Voice of America that despite many differences, the US supports giving loans to Pakistan through the IMF to avoid an economic crisis like Afghanistan.
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He said that anti-terrorism, nuclear security and stability are considered to be the most important factors of America's permanent interest in Pakistan, but Salikuddin said that due to the geographical importance of the country, irresponsible economic policies on the part of Pakistan's leadership. Making it can pose a big problem.
The Wall Street Journal reported that the IMF had asked Pakistan to first arrange additional funds to cover the external funding shortfall in the fiscal year.
The report further said that more than 10 billion dollars was given to Pakistan by China.
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Finance Minister Miftah Ismail told the Wall Street Journal in an interview that Saudi Arabia will give a loan of 3 billion dollars, in which about 1 billion 2 million dollars will be paid back for oil, a billion dollar investment in Riyadh, Pakistan. Kari will also do.
Pakistan will take a loan of 2.5 billion dollars from the United Arab Emirates, last week Qatar announced that it is willing to invest 3 billion dollars in Pakistan.
A report in the Wall Street Journal warned that the country will need more financial aid because of the above-normal rains and floods in Pakistan.
IMF sources told Dawn that Pakistan's opposition and ruling parties need to improve the political situation to stabilize the economy.
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