Pakistan's Finance Minister Miftah Ismail said on Sunday that despite the devastating floods in the country, we can repay the debt. He said that even after the unprecedented floods in the country, Pakistan will not default on its debt obligations. Heavy floods have caused massive destruction in Pakistan. More than 33 million people have been affected by floods in the country, causing billions of dollars in damage and more than 1,500 deaths across the country so far. After this, there is talk that Pakistan will lag in repaying the debt.
Pakistan able to repay the debt
"Given the challenging environment, the road to stability in the country was already a bit difficult and it has become even more difficult," Finance Minister Miftah Ismail told Reuters news agency. “If we take any decision carefully, we will not default in repaying the loan,” he said. Of course not.' He said that it is due to tough policy decisions that Pakistan has been able to win the trust of the International Monetary Fund (IMF) after several months and has been able to bring the IMF program back on track.
Emphasis on increasing foreign exchange reserves
The Finance Minister said that despite the floods in Pakistan, most of the stabilization policies and targets are still on track, including increasing the depleting foreign exchange reserves. He added that despite receiving $1.12 billion in IMF funding at the end of August, the central bank's reserves stood at $8.6 billion, enough for just one month's worth of imports. He said that Pakistan would still be able to increase reserves by $4 billion. He estimated that the current account deficit would not exceed $2 billion after the floods.
After heavy rains, the danger of flood has now arisen in the plain states including Delhi, UP, an
Rupee vs Dollar: The rupee at its all-time low, after Fed's decision reached the level of 80.45
The rupee has hit an all-time low. On Thursday, it opened at Rs 80.28 against the US dollar. Earl
Pakistan is facing a serious economic crisis these days. Because of this, a debate has started in
Glenn Maxwell Record AUS vs NED: Australian batsmen and bowlers created a stir against Netherland
After making a series of policy changes on Twitter in the last few days, Twitter CEO Elon Musk ha
Shraddha Walker murder accused Aftab Poonawal has withdrawn his bail plea. This application has b
A submarine used to show tourists the wreckage of the Titanic has gone missing in the Atlantic Oc
A befitting reply has been given by India to the statement of Pakistan's Foreign Minister Bilawal
Director Karan Johar, who has been targeted by actress Kangana Ranaut for giving immense work to
Vishwa Hindu Parishad (VHP) has decided that it will run a campaign to free all Hindu temples fro
