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Pakistan set to strategy International Monetary Fund for second bail-out bundle, says report – World News , Firstpost

‘We are going to talk to the IMF as a result of we see disruptions forward simply when our financial system is recovering and all the indications are constructive,’ Dawn newspaper quoted Imran Khan as saying

File picture of Pakistan prime minister Imran Khan. AP

Islamabad: Pakistan Prime Minister Imran Khan has indicated that he would strategy the International Monetary Fund (IMF) for a second aid bundle to assist the cash-strapped authorities attain the needy individuals amid the coronavirus pandemic, in keeping with a media report.

Khan’s remarks got here throughout his deal with on the launch of the United Nations Development Programme’s Pakistan National Human Development Report on Inequality on Tuesday, Dawn newspaper reported.

“We are going to speak to the IMF because we see disruptions ahead just when our economy is recovering and all the indicators are positive,” the paper quoted Khan as saying.

About funds allotted for coping with the coronavirus pandemic, Khan stated Pakistan having a inhabitants of 220 million distributed $eight billion amongst individuals in the course of the pandemic whereas the US with a inhabitants of 330 million offered round $four trillion to the Covid-hit inhabitants.

“So I think, this is time for a second package and we will talk to the IMF”, the prime minister stated.

Earlier, Pakistan had secured a USD 6 billion mortgage from the IMF in 2019.

Khan stated the IMF managing director Kristalina Georgieva, too, realized the gravity of the state of affairs, as sure circumstances couldn’t be imposed on the individuals amid the pandemic.

Speaking on inequality, Khan stated laundering of cash from poor states to tax havens and wealthy international locations was widening the hole between wealthy and poor states even in the course of the COVID-19 pandemic.

Amidst the COVID-19 pandemic, tens of millions of households throughout Pakistan face financial hardship, significantly these working within the casual sector, who haven’t any financial savings or are usually not lined by present social security internet programmes.

The nation has been in dire want of funds after its financial system contracted after being onerous hit by the COVID-19 pandemic.

Pakistan has reported over 700,000 COVID-19 instances with greater than 15,000 deaths.

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