Islamabad, The Pakistan Finance Minister, standing at the threshold of being bankrupt, claimed on Saturday that the last monetary fund (IMF) is being borrowed from the bank. However, newly elected Prime Minister of Pakistan Imran Khan had recently said that the IMF’s debt may not have to be needed to deal with the current cash crisis.
Pakistan has also taken loan from IMF 12 times earlier. The previous governments of Pakistan also claimed the opportunity of unemployment to be the last of the loans taken by the IMF on various occasions. The previous Prime Minister Nawaz Sharif’s government had made similar claims after taking a $ 6.6 billion loan from the IMF to avoid a similar crisis in 2013.
Addressing the Karachi Stock Exchange, Finance Minister Asad Umar said, “This is the 13th and last loan to be taken from the IMF. We are heading towards being fast bankrupt. We have to defend 21 million Pakistanis. ‘ This statement has come at a time when the central bank of Pakistan has warned that the inflation rate should reach 7.5 percent in the coming year and the economic growth rate should be 6.2 percent.
The current government is giving contradictory statements about the 13th loan being taken from the IMF. Before this statement from Omar, Imran had said this week that probably IMF did not need this loan. A team of IMF is scheduled to come to Pakistan in early November to discuss the terms of the loan.