… Pakistan kept pleading for loan, IMF will approve $ 2.9 billion package to Sri Lanka

… Pakistan kept pleading for loan, IMF will approve $ 2.9 billion package to Sri Lanka


IMF Bailout Package For Sri Lanka: Two neighboring countries of India in South Asia are struggling with economic plight. One of them is Pakistan and the other is Sri Lanka. To improve their economic condition, both these countries requested the International Monetary Fund (IMF) for a package, but only one of these countries will get the economic package. The IMF will approve a package worth billions of rupees for Sri Lanka, while the representatives of the Pakistani government, who have been negotiating for months, have not been approved by the IMF. Simply put, Pakistan will have to add more hands and feet now.

Lanka will now have enough foreign exchange reserves
Sri Lanka’s Central Bank Governor Nandlal Weerasinghe has said that he will get a package of $ 2.9 billion from the IMF. Speaking to the media, Nandlal Weerasinghe said, “Now the dollar crisis is over in our country. IMF is going to approve $ 2.9 billion bailout package for the country on Monday. This statement was published in the report of the news agency Xinhua. According to which, Sri Lanka is going to get the package from IMF, and hence now Sri Lanka will have enough foreign exchange reserves to import the required sectors.

Here, Pakistan has nominal forex reserve
Sri Lanka is going to get billions of dollars from the International Monetary Fund (IMF), but the Pakistani government has been giving little assurances to its businessmen. The ministers of Pakistan are saying that they will also get loan installment from IMF soon. But it has been months since making such a claim. Pakistan’s Finance Minister Ishaq Dar has said that he needs foreign funding of $ 5 billion to close his financial gap in the financial year ending in June. In Dar’s statement, an attempt is being made to assure the country that the deal with the IMF will be signed ‘very soon’. However, the government has not lived up to the conditions of the IMF. To get the loan installment, he will have to accept many such things, which will be opposed in the country.

Read also: Pakistan Economy Crisis 2023: Know how Pakistan’s GDP has gone from bad to worse, inflation shed tears of people, foreign debt broke the back of the economy


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