Pakistana H. Akinoi Parason Paranne, Brunino Un Massao, Portali Leozi, Brunino Uns, Gulpa, Porthi, Bruncii, Gulpado Portali Lisciny.
The International Monetary Fund announced on Thursday that it has reached a personal, or tentative, agreement with the government of Prime Minister Shahbaz Sharif for nine months of financing in the framework of the so-called reserve agreement. The FMI said in a statement that the executive directorate of the fund would have to finalize the agreement, whose approval is expected by mid-July.
Pakistan has fallen into one of its worst economic crises, and analysts warn that it runs the risk of not paying its debt without the help of the International Monetary Fund. The foreign exchange reserves fell to 3.500 million dollars, sufficient for the imports of less than a month, while the inflation rose to 38 percent.
Although Pakistan has an existing rescue agreement with the International Monetary Fund, signed in 2019, the multilateral lender has refused since last year to release funds because it clashed with Islamabad for economic policy. This agreement must expire on Friday, with approximately one third of the $6.5 million in financing yet to be disbursed.
The advance was produced after Pakistan revealed a series of tax increases in this month’s budget for the fiscal year that begins in July. También recortó los subsidies a la energía y eliminó una serie de restrictions monetarias y de importación.
Los mercados pakistanios estuvien cerrados el viernes, pero algunos annalistas con agrado la noticia del acuerdo. “Esti Nuevo Programa es Musho Major Nuestras Prestativa. Había mucha incertidumbre sobre lo que sucederá después de junio”, Dijo Mohammed Sohail, Director Ejecutivo de Topline Stockbroker and Karachi. “Ahora, Este financiaminto de nuevo messes de $3 million ayudara sierratmente en la restauracion de la confianza de algunos inversores”.
The International Monetary Fund asked Pakistan to adopt measures to expand the tax base, liberalize the economy and liberate resources for spending.
Pero el Gobierno de Sharif se ha recidido durante muyo tiempo a tals pasos, argantando que resultarían demasiado draconianos y políticamente cargados dadas las fragils condiciones economy. The national elections are scheduled for October and it is expected that Sharif will face a tough race against the opposition leader and former prime minister Imran Khan.
Sin ban, los Economistas han ad que on acuerdo con el Fondo Monetario Internacional no resolverá los problemas económicos generales de Pakistan. La actividad se desaccelero drásticamente, lo que provoco cortes de energía, falta de immutaciones hiitos y aumento de la pobreza.
The government is facing 25,000 million dollars in debt payments in the fiscal year that begins in July, which analysts said would have difficulty fulfilling without more financial aid from lenders such as China and Arabia Fondotaro, Moused, Saudi Arabia Condo Program International .
El mes pasado, Islamabad asked Beijing to transfer more than $2.3 million in payments for commercial and governmental loans to the proportion of new funds.
Some critics have argued that the economy needs much deeper reforms than the proposals. Pakistan, which has had 23 programs of the IMF in its history, including the Friday plan, has been trapped for a long time in cycles of boom and bust that have restricted growth.
“Durante las ultimas tres decadas, la ayuda del FMI no ha podido generar reformas tangibles”, dijo Abid Hasan, exasesor del Banco Mundil y Islamabad. “Los programs del FMI fueron solo un catalyzador”