Federal Finance Minister Miftah Ismail assures the nation will meet all debt payments. Pakistan sees a way out of its current economic crisis without descending into default.
Imf loan to help a stalled International Monetary Fund loan as well as spending cuts, Finance Minister Miftah Ismail said.
Pakistan and other emerging countries have been facing the worst crisis.
Pakistan too several measures in budge which depress demand for imports has weathered the storm.
Pakistan needs a total of $33.5 billion in the year through June 2023, while available financing stands at $35.9 billion for the period, according to a presentation by the State Bank of Pakistan.
Pakistan is absolutely going to make each and every payment and each and every bond.
Pakistan reduced its imports by 35% to $5 billion in July,
A drop in imports will in turn help check the nation’s current-account gap.
The spike in domestic energy prices — by 50% to win the IMF bailout — will also reduce energy demand and imports
Reduction in imports to cut pressure on the currency.