Pakistan’s economy is suffering from debt. In this situation, Islamabad took a huge loan from Saudi Arabia and Qatar. Undoubtedly, the neighboring country will get some relief in the difficult situation with this loan.
Pakistan is supposed to repay the huge loan taken from the United Arab Emirates. 3.5 billion dollars is supposed to be paid this month. In this situation, the pressure is increasing on them. In this situation, taking a loan of 5 billion dollars may be able to handle that aspect to some extent. But it is certain that the overall situation will not change much.
Pakistan’s economy is already on the verge of death with huge amount of loans from various countries and organizations. Shahbaz Sharif’s government is imposing new taxes to increase the burden of the people of Djerba due to the problem of price increase. This situation was understood in the comments of Pakistan Prime Minister Shahbaz Sharif at the beginning of the year. He can be heard saying, “Foreign exchange reserves have almost doubled now. But the debt has also increased. You know, taking a loan makes your head spin. Me and Asim Munir have also had it. Taking a loan has hurt our self-esteem. We can’t say no to anything.”
Incidentally, Pakistan received a loan package of 7 billion dollars from the International Monetary Fund a couple of years ago. The Pakistani currency fell against the dollar after the pandemic. In addition, Pakistan was suffering from rampant inflation and fuel shortages. At that time, Pakistan’s economy was boosted by getting a loan from the International Monetary Fund. Instead, Pakistan was obliged to accept several conditions. But India had already complained that Pakistan did not comply with that condition. In all this, the IMF approved a loan of 1 billion dollars for Pakistan in May last year. India still objected.
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