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Pakistan Becomes 4Th Biggest Imf Debtor After Approval Of $3 Billion Bailout

  • Posted on July 13, 2023
  • News
  • By Haroon Ameen

Pakistan has gone to International Monetary Fund (IMF) for more than twenty times to get loans and now is the situation that it stands at 5th position in the list of 93 member countries of IMF which have taken the highest maximum loans.  

According the data of IMF, Pakistan will become the 4th in the list of IMF’ member countries whose loan stands at the top after the receiving additional loans of $3 billion in the next nine months under the standby arrangement. 

So far, International lender has given $115 billion to its member as loan. Argentine stands at first position as the IMF’s borrower with $46 billion, Egypt stands at second position with $18 billion, Ukraine stands at third position with loans of $12.2 billion, Ecuador stands at fourth position with amount of loan which is $8.2 billion and at present, Pakistan stands at fifth position with loan of $7.4 billion. After receiving $3 billion loan from IMF, Pakistan will take 4th position, leaving Ecuador behind. 

Pakistan is among those 10 member countries of International Monetary Fund which has taken 71.7 percent of loans out of the total amount of outstanding balance of loans, the international lender has given to its member countries.  

In region, Pakistan is the highest borrower from IMF. Amount of loans, the other regional countries including Sri Lanka, Nepal, Uzbekistan, Kyrgyz republic, Armenia and Mongolia is far less than the amount, Pakistan has taken from IMF. 

There are only 19 countries among the members of IMF which have taken more than $1 billion from IMF. This is economic and political condition of Pakistan which brought the countries at the position of fourth biggest borrowers of International Monetary fund but still no signs of strong long term economic planning at national level seems which may be herald of riding the country from debts.    

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Haroon Ameen

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