Economic Crisis: Saudi Arabia, UAE And China Shunned Pakistan, Strict Conditions Of Imf Too Pi News

News Details

World Desk, Amar Ujala, Islamabad

Published by: Surendra Joshi
Updated Tue, 31 May 2022 11:28 AM IST

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essence

Pakistan’s foreign exchange reserves are depleting rapidly. It is already in a bad condition due to the burden of foreign debt and high inflation.

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With the help of Pakistan, which is getting stuck in constant economic crisis, its friends have also outdone themselves. He had sought financial help from Saudi Arabia, the United Arab Emirates and China, but at present, all three countries have turned him away.

Pakistan’s foreign exchange reserves are depleting rapidly. It is already in a bad condition due to the burden of foreign debt and high inflation. Pakistan’s Finance Minister Miftah Ismail himself has talked about the inability of China, UAE and Saudi Arabia to give loans.

According to Ismail, its friendly countries are also being careful in giving loans to Pakistan. A media report quoted Ismail as saying that he himself had gone to Saudi Arabia and UAE seeking help, discussed with some other countries as well, but they are not ready to help. All these countries advised him to first seek help from the International Monetary Fund (IMF). Only then will they consider Pakistan’s help.

China’s bank also refused to give loan
China’s Asian Infrastructure Investment Bank has also refused loan to Pakistan. Only if global financial institutions give loans to Pakistan
That too will help.

Expansion

With the help of Pakistan, which is getting stuck in constant economic crisis, its friends have also outdone themselves. He had sought financial help from Saudi Arabia, the United Arab Emirates and China, but at present, all three countries have turned him away.

Pakistan’s foreign exchange reserves are depleting rapidly. It is already in a bad condition due to the burden of foreign debt and high inflation. Pakistan’s Finance Minister Miftah Ismail himself has talked about the inability of China, UAE and Saudi Arabia to give loans.

According to Ismail, its friendly countries are also being careful in giving loans to Pakistan. A media report quoted Ismail as saying that he himself had gone to Saudi Arabia and UAE seeking help, discussed with some other countries as well, but they are not ready to help. All these countries advised him to first seek help from the International Monetary Fund (IMF). Only then will they consider Pakistan’s help.

China’s bank also refused to give loan

China’s Asian Infrastructure Investment Bank has also refused loan to Pakistan. Only if global financial institutions give loans to Pakistan

That too will help.

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