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Pakistan has been facing an acute economic crisis. To avoid an economic collapse, the country has reached out to the International Monetary Fund (IMF) for a bailout. Pakistan is trying hard to unlock the USD 1.1 billion loan facility with the IMF. Meanwhile, the IMF has asked Pakistan to follow certain conditions such as increasing taxes on luxury items. As of February 10, Pakistan had only USD 3.2 billion in reserves, that will hardly cover 3 weeks of import. To talk in-depth about the economic condition of Pakistan, Shahbaz Rana, Anchor at Expressnews and Economic Correspondent at the Express Tribune in Pakistan joins us.
Rana touches upon the following points: the IMF bailout conditions, reason for Pakistan to go to the IMF and ways for the country to improve the current economic condition. Rana believes that Pakistan should help itself out by “behaving fiscally”, increasing foreign direct investment and more. Listen in.
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