The one who supported the sinking boat also left it, IMF refuses to give financial help to Pakistan

The IMF team that reached Pakistan for financial help withdrew its helping hand. The IMF had put some conditions in front of the Pakistani government, which it was unable to fulfill. Due to which the IMF team returned to Washington. The team said that the bailout package will be discussed only after fulfilling the conditions.

Neighbouring country Pakistan is going through its worst phase right now. Economic recession, political instability, loans have to be taken more. People are dying due to starvation. Pakistan, which is already suffering from inflation, is now facing a new crisis. The one who was supporting the sinking ship has also withdrawn its helping hand. The International Monetary Fund (IMF) has even refused to give money to Pakistan.

Actually, Pak PM Shahbaz Sharif had begged for money from IMF. IMF had put some conditions in front of Pakistan for the bailout package, which Pakistan did not fulfill. Due to which the IMF team that came to investigate the economic reforms returned to Washington. Now it is believed that the financial aid to Pakistan may also stop.

The agreement was not concluded because the conditions were not met

According to the information, the IMF team reached Pakistan on May 10. Negotiations were to be held between the two parties for the bailout package, and the agreement was to be signed. Because Pakistan did not fulfill its conditions, the agreement could not be reached. The IMF team said that the conditions placed before Pakistan to get financial help have not been fulfilled. The new bailout package will be discussed only after reviewing the progress of the conditions.

What were the conditions? The conditions that the IMF had put before Pakistan included tax reforms for revenue generation, improvement in social security, reduction in electricity prices, control of inflation and improvement in government work.

It is noteworthy that the IMF has withdrawn its helping hand when it needs money the most. There is a shortage of everything from flour to cooking gas in the country. The number of people below the poverty line is increasing. There are protests against the Pakistan government regarding this.