Pakistan Economic Crisis 2023: Pakistan, which has been struggling with financial crisis for months, can now get an economic package. The major Islamic countries of the world, Saudi Arabia and the United Arab Emirates (UAE) have agreed to give him a loan. Officials associated with the Government of Pakistan have made this claim.
The Pakistani government has been requesting financial help from the International Monetary Fund (IMF) since the beginning of February. International Monetary Fund’s delegation also came to Pakistan for 10 days, but those talks could not be successful. Recently, the hope of getting a loan to Pakistan was raised when Saudi Arabia promised to give a loan of $ 2 billion to Pakistan.
Late on Wednesday, Pakistan government sources claimed that after Saudi Arabia, now the United Arab Emirates has also agreed to give loan to Pakistan. This becomes very important because the IMF has placed a condition that any new loan to Pakistan can be given only when its friendly countries make a guarantee deposit in its coffers. Pakistan’s foreign exchange reserves are still left from the collection of loans received from Arab countries, Pakistan will not be able to spend that amount.
Will the amount be received by the end of this month?
Economic experts say that if the funds from Saudi Arabia and the United Arab Emirates reach Pakistan’s exchequer by the end of this month, the Shahbaz government can save the country from default. Otherwise, if these countries also step aside, Pakistan can become bankrupt. Pakistan has a debt of more than 100 billion dollars.