Crisis-hit Pakistan has made various economic modifications including hikes in fuel prices, raising taxes, and others demanded by IMF to unlock the loan program.

IMF sets another condition for crisis-hit Pakistan to revive loan

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Pakistan and the International Monetary Fund:

In 2018, Imran Khan became Prime Minister of Pakistan. For this, they arranged friendly loans from Saudi Arabia, United Arab Emirates and China to avoid tough IMF conditions. In 2019, when economic conditions worsened, they went to IMF for the twenty-second time for a loan of US$1 billion. IMF gave loan based on conditions such as hike in energy tariffs, removal of energy subsidy, increase in taxation, privatization of public entities and fiscal policies to the budget.

IMF bailout package — rescue or trap for Pakistan?

“The IMF’s agenda is not to strengthen global economies because if it does that, then the Fund itself will be out of business,” he said.