Pakistan’s Economy is in Jeopardy as the International Monetary Fund (IMF) objects to Pakistan’s budget for the fiscal year 2023-24, saying that it is “not consistent” with the terms of the country’s $6 billion bailout program.
Experts say that the IMF’s demands are necessary but difficult to meet. The IMF has asked Pakistan to raise taxes and cut spending in order to reduce its budget deficit. It has also asked Pakistan to take steps to improve its revenue collection and control its spending on subsidies.
The IMF’s objections have cast a shadow over Pakistan’s economic outlook. The country is already facing a severe balance of payments crisis, and the IMF’s demands could make it even more difficult for Pakistan to get its economy back on track.
The IMF’s objections have also raised concerns about the future of the country’s ruling coalition. The coalition is made up of a number of different parties, and it is unclear whether they will be able to agree on the necessary reforms.
Some economists believe that the Pakistani government will be able to meet the IMF’s demands, while others are more skeptical. If the IMF’s demands are not met, it could lead to a further delay in the release of the next tranche of Pakistan’s bailout package. This could have a devastating impact on the country’s economy.
The IMF has said that it will continue to review Pakistan’s budget and that it will make a decision on the release of the next tranche of the bailout package in the coming weeks.
The future of Pakistan’s economy is uncertain. It will depend on the ability of the Pakistani government to meet the IMF’s demands and the willingness of the Pakistani people to make sacrifices.