Corona's havoc is overshadowing Pakistan's economy, Pakistan had sought help from the International Monetary Fund (IMF) to deal with it. Now the IMF is considering a loan of $ 1.4 billion to Pakistan, decision will be taken on this about in this week. PAK Prime Minister Imran Khan has appealed to the world to help a developing country like Pakistan to tackle the outbreak of Corona virus.
Significantly, in Pakistan the number of corona infected patients has increased to more than 5,370 and 92 people have died from Covid-19 there. There is economic slowdown in Pakistan due to the Corona crisis and there is a huge cash crunch. Because of this, the IMF will consider giving a loan of $ 1.4 billion to Pakistan. This loan will be in addition to the $ 6 billion relief package that Pakistan has to get under the agreement before the IMF.
Last year, when Pakistan faced a balance of payments crisis due to a huge foreign exchange crisis, Pakistan signed an agreement with the IMF, under which it is to get a relief package of $ 6 billion. The meeting of the Executive Board of the International Monetary Fund is going to be held on April 16, in which an additional loan of 1.4 billion dollars to Pakistan will be considered. This loan is being given to increase the foreign exchange of Pakistan and provide budgetary support to it, so that Pakistan can cope with the economic slowdown due to Corona.
According to news agency PTI, Pakistan had requested the IMF in March to immediately provide loans under the Rapid Financing Instrument of the Monetary Fund to deal with the adverse situation arising out of Covid-19. Pakistan representative of the IMF, Teresa de Sanchez, said, "We have been working closely with its officials since receiving this request from Pakistan." This loan of $ 1.4 billion can be get only next week.
Significantly, RFI is given to those member countries of the International Monetary Fund, where the balance of payments crisis arises. In this case, they immediately helped without any complete program.
