Pakistan does not even have money to pay its debt, General Bajwa seeks help from America

The economic situation in Pakistan is going so bad that General Bajwa has to plead for help from America. It has been said that America should put pressure on the IMF and soon they will get the economic package.

The economic crisis has become big in Pakistan. Inflation is touching the sky, their rupee is also getting weaker. Pakistan, which is expecting a package from the IMF, has not got any relief from anywhere so far. For this reason, now General Qamar Bajwa himself has taken over the front. A request has been made to America on their behalf. It has been said that America should put pressure on the IMF and soon they will get the economic package.

 According to a report by Nikkei Asia, General Bajwa has spoken to US Deputy Secretary Wendy Sherman over the phone. It has been appealed that America should put pressure on the IMF and give them a loan of $ 1.2 billion immediately. The great thing is that Gen Bajwa has no official power to actually make this demand on his behalf. But as the situation is in Pakistan, there is an emphasis on the army. The government keeps on falling due to his orders. For this reason, when such a big economic crisis has come upon Pakistan, Bajwa himself has appealed for help from America to handle the front.

The situation has become more dangerous for Pakistan because its foreign exchange reserves are becoming empty. At present, he has less than $ 9 billion in foreign exchange left. With this quantity only he can pay the import bills for two months. For this reason, the sword of becoming a defaulter is hanging on Pakistan right now. It is important to know here that the staff level approval has already been given to Pakistan by the IMF. But until the Executive Board takes the final decision, this help cannot reach Pakistan. And because America is also an important member of the board, efforts have been made to make it easier by contacting him directly. Although senior officials of Pakistan had spoken to the US last week too, but then no agreement could be reached on the ground.

Here it becomes necessary to know that IMF is ready to give economic package to Pakistan, but with some conditions. The biggest condition in this is that the government of Pakistan will have to increase the electricity rates, besides levying additional tax on petroleum products. If these conditions are fulfilled, then only any financial help can be given to Pakistan. But inflation has already broken all the records in Pakistan, the public is already suffering. In such a situation, if these conditions are accepted, then a big bomb of inflation is believed to explode.

News is originally taken from: https://www.aajtak.in/world/story/pakistan-bajwa-imf-america-loan-defaulter-detail-ntc-1508866-2022-07-29

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