No way out of IMF loans anytime soon, says Finance Minister Shamshad,
Pakistan’s Finance Minister, Shamshad Akhtar, has stated that the country will need to continue relying on IMF loans for the foreseeable future.
During a recent interview, Akhtar explained that Pakistan’s economy remains fragile and that the country’s current debt situation is unsustainable. As a result, he believes that Pakistan will need to continue to seek IMF assistance in order to meet its financial obligations and support economic growth.
Akhtar’s comments come amid growing concerns about Pakistan’s economic stability. The country’s currency, the rupee, has been depreciating rapidly in recent months, and inflation has been on the rise. In addition, Pakistan’s foreign exchange reserves have dwindled, making it difficult for the government to meet its import bills.
The IMF has been a major lender to Pakistan in recent years, providing billions of dollars in loans to help the country stabilize its economy. However, these loans have come with strict conditions, including austerity measures that have had a negative impact on the lives of ordinary Pakistanis.
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Akhtar’s remarks suggest that Pakistan is likely to continue to face economic challenges in the years to come. The country will need to implement reforms to address its structural imbalances and attract foreign investment in order to achieve sustainable economic growth.
It remains to be seen whether Pakistan will be able to break its reliance on IMF loans in the near future. The country’s economic trajectory will depend on a number of factors, including the global economic outlook, political stability, and the government’s ability to implement effective economic policies.