IMF turns away : default crisis deepens on Pakistan

Amidst the tension regarding Imran Khan, Pakistan is getting engulfed in serious economic crisis. IMF has refused to give loan to Pakistan and the risk of its default is increasing. Pakistan’s Finance Minister Ishaq Dar has once again assured on Saturday that Pakistan will not default. Meanwhile, the war between Imran Khan and Pakistan Army seems to be reaching the decisive phase. Now Saudi Arabia and UAE are also in danger due to ongoing political and economic instability in Pakistan. Both these countries have given loans worth billions of dollars to Pakistan.

The ongoing political and economic crisis in Pakistan has increased the tension of the Gulf countries. In these too, especially the United Arab Emirates and Saudi Arabia are badly trapped. Both these countries together have promised Pakistan and the IMF to give $ 3 billion. The economic crisis in Pakistan seems to be reaching its peak amid political chaos. After independence in Jinnah’s country in 1947, inflation has reached its highest level.

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