IMF's strict conditions for the new loan program came out
Sources in the Ministry of Finance say that the IMF has stipulated that the government will not take loans from the State Bank of Pakistan, the government will only be allowed to sell sukuk bonds in the stock market.
The IMF demanded that the exchange rate of the dollar be kept in line with the market and the interest rate be kept in line with inflation, the State Bank should adopt a tight monetary policy to control inflation.
The IMF says that debt and interest payments on Pakistan are the main reason for the deficit, and the IMF has also demanded a reduction in other expenses including pension.
Sources say that it is estimated to spend 9 thousand 787 billion rupees on interest on loans in the next fiscal year, and 8 thousand 371 billion rupees can be spent on debt and interest payments this fiscal year.
Sources say that only in the first nine months, 5 thousand 518 billion rupees interest has been paid on internal and external loans, it is estimated that the debt ratio will decrease from 72 percent of GDP to 70 percent in the next financial year. Is.