IMF TO PAKISTAN

sourced by WION;

Pakistan needs to answer many questions. The country's economy is in the doldrums and its impact has left no one touched. Its resources are bleeding with no funds. Coming islamabad's way, the international monetary fund has convened two Pakistani authorities that it is time to take necessary action. The IMF has shared a list of prerequisite actions with Pakistan authorities to implement them within the next three weeks . If they are Keen to revive the stalled Loan program it has become crucial to follow the imf's conditions to pave the way for a staff level agreement and the release of a one billion dollar tranche under an extended fund facility. The Pakistan's finance minister is expected to hold consultations on this list that has been shared by the IMF for the Revival of this loan program. The eef is a facility offered by the international monetary fund for countries to borrow money to address their structural and economic problems to hike the budget deficit because of flood-related expenditures. In the current fiscal year, in Pakistan prices of day-to-day products are not just painting millions of people, the financial crisis has hit the government as well. According to reports several Pakistani Embassy staff across the world have not received their salaries for the last four months because the country is short by a whopping 5 million dollars of Forex for the last four months. Pakistan's debt in fact stands at nearly 266 trillion dollars. Their economy is going through a turbulent time as inflation stands at a record 42 percent High. The country's foreign reserves have depleted to under 7 billion dollars that amount is barely enough to sustain a month of imports given these factors the Pakistani rupee has devalued significantly. It now stands at over 220 Rupees against the dollar not only that Pakistan's fiscal trouble has also impacted as I said is overseas missions. According to Media reports, the staff at the German Embassy has written two Pakistan's foreign office that a lack of funds is hindering operations at the mission, no paychecks are being issued to the German American or French Embassy staff. The Chinese firms in Pakistan have also decided to go slow with the investments in the country reports of Pakistan. Old Washington Embassy have also been doing the rounds though the Pakistan foreign office.