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IMF is giving another 110 billion dollar loan to Pakistan

March 21, 2024 4:56 am

IMF is giving another 110 billion dollar loan to Pakistan

Pakistan is suffering from economic crisis. Lender International Monetary Fund (IMF) has agreed to lend the country another $110 billion. An agreement in this regard has already been signed between Pakistan and the IMF.

This information was given by the IMF headquarters in a statement on Tuesday evening. Now the IMF’s board meeting will give the green signal only to start disbursement of loan money. Reuters news.

Economic crisis started in Pakistan from 2021 due to dollar reserves falling to the bottom. It became more intense in the next 2 years.

In this situation, the government of Pakistan applied for an emergency loan of 3 billion dollars from the IMF in 2022. Following that application, after extensive scrutiny, the IMF agreed to give the country an installment loan in the summer of last year. The last installment of that episode is this 110 dollars.

According to Reuters report, an IMF delegation visited Islamabad on Thursday. After staying there for 5 days and verifying various information related to the country’s economy, the IMF delegation held a meeting with the officials of the Ministry of Finance and the Central Bank of Pakistan on Tuesday. The agreement was signed in that meeting.

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