There’s a lot of talk about the IMF these days, as a bailout has become inevitable.
Pakistan has gone to the IMF repeatedly since the late 1980s. The last time was in 2013, when Islamabad got a $6.6 billion loan to tackle an economic crisis. However, there are fears that the terms of any new loan will be more stringent than those in 2013, due to tense relations with the US, the lender’s biggest donor.
The country has once again approached the monetary body for a bailout. However, the loan comes with its own set of restrictions on the economy.
We have compiled a selection of stories on the topic to bring you up to speed.
Pakistan’s IMF bailout inevitable, but so is rise in inflation and unemployment
A delegation of the International Monetary Fund wrapped up week-long consultations with Pakistan’s government and the reports that are emerging will not make for pleasant reading, especially for the country’s poor.
Pakistan’s 60-year history with the IMF in one chart
Pakistan and the IMF are no strangers. Since 1958, they have made 21 agreements for loans.
Read the full story here: https://www.samaa.tv/news/2018/10/pakistans-60year-history-with-imf-in-one-chart-hs/
Dollar closes at all-time high of Rs133.6 as Pakistan goes to IMF
The dollar closed at its highest ever rate of Rs133.6 on Tuesday after another round of the rupee’s depreciation as news broke of Pakistan seeking an IMF bailout.
Read the full story here: https://www.samaa.tv/news/2018/10/dollar-surges-to-rs134-as-pakistan-seeks-bailout-from-imf/
The IMF loan won’t solve all of Pakistan’s problems
Entering the International Monetary Fund (IMF) programme would be credit positive for Pakistan because it will provide access to a cheap loan to shore up the country’s dwindling foreign reserves, but external and fiscal challenges will remain, Moody’s Investors Service said in a report on Wednesday.
Read the full story here: https://www.samaa.tv/news/2018/10/the-imf-loan-wont-solve-all-of-pakistans-problems/