IMF to support Pakistan’s authorities with relief, reconstruction for flood victims
gave International Monetary Fund (IMF) on Sunday expressed sympathy with Pakistan’s flood victims and said it was “deeply saddened” by the devastation caused by the natural disaster in the country.
“Our sympathies go out to the millions of victims of the floods. We call on the international community to support, under the current programme, the relief and reconstruction efforts of the authorities, and in particular their ongoing efforts to help those affected by the floods. I will work with others to ensure sustainable policies and macroeconomic stability,” said IMF Country Representative Esther Perez Ruiz. ReutersAccording to Geo.tv.
Despite the resumption of the IMF program after a long seven-month hiatus, Pakistan is still facing a severe dollar liquidity crisis. A devastating flood It has distorted the basic principles of macroeconomics.
Although several leaders and economists have reportedly suggested that Pakistan should request the IMF to provide a Rapid Financing Instrument (RFI) or disaster response funding facility, Islamabad has No new requests have been made yet. World Money Lending Organization.
The $6.5 billion IMF program was revived in late August after it stalled in February 2022 under the previous PTI-led government when it unfunded fuel and electricity subsidies. was provided.
Top government sources said the exchange rate has been under a lot of pressure in recent days due to which the rupee has depreciated by 9 percent against the US dollar. News here on friday.
“The situation has worsened as demand for imports has multiplied but the country does not have enough dollars. “Without improving dollar injection, Pakistan’s economic weaknesses are not going anywhere,” the source added.