We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
The International Monetary Fund (IMF) is going to give a loan of 7 billion dollars to Pakistan. The Pakistan Prime Minister's Office said that the IMF's Board of Directors approved the loan.
The IMF is going to give loans to strengthen the declining Pakistani economy. Prime Minister Shehbaz Sharif's government sought a loan from the IMF to boost Pakistan's economy.
The IMF was approved to lend 7 billion US dollars only after Pakistan promised to improve the structure of agricultural taxes, make the state responsible for financial investigations, etc. Pakistan has recently been relying on IMF loans after the economic downturn.
Since 1958, Pakistan has taken loans from the IMF 22 times. According to last month's data, Pakistan's external debt has exceeded 130 billion US dollars. About 30 percent of which belongs to the neighboring country China.
Within the next 3 years, Pakistan has to pay 90 billion US dollars of external debt. Pakistan is also the fifth largest debtor country of the IMF. As of July 11, Pakistan owes $6.28 billion to the IMF.
