New Delhi: The difficulties of Pakistan, which is facing financial crisis, do not seem to be reducing. Pakistan, expecting help from the World Bank, has again suffered a setback. There is a delay in the relief that Pakistan gets from the World Bank. According to sources, the World Bank has postponed the loan to Pakistan for the next financial year. This year Pakistan was going to get a loan of $1.1 billion from the World Bank. But the financial assistance from the World Bank is stuck since June 2022. But a decision will be taken in this regard in April.
Relief from UAE
Pakistan, which is facing economic crisis, is requesting help from all over the world. In such a situation, he is extending his hand in front of many countries including World Bank, IMF. But Pakistan is not seeing any relief. However, Pakistan did get some help from the UAE. UAE had given a loan of 2 billion dollars to Pakistan. It is believed that with this help, it is expected to rebuild foreign exchange reserves and ease imports.
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IMF stopped the loan
Earlier, the loan of $ 1.1 billion to Pakistan from IMF has been postponed. Pakistan had sought help from the IMF, but in return, the IMF placed a condition of increasing the prices of petrol and diesel. Shahbaz Sharif refused to do so in view of the upcoming elections.
shortfall in foreign exchange reserves
At the same time, the Central Bank of Pakistan issued a statement saying that the country’s foreign exchange reserves have reached $4.3 billion. At the same time, Pakistan has only money left for imports for three weeks. Let us tell you that there has been a sharp decline in foreign exchange reserves in the recent months. Due to this, the danger of becoming a pauper has increased on Pakistan.
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Tags: pakistan latest news, Pakistan’s Economy, world bank
FIRST PUBLISHED : January 19, 2023, 18:18 IST
