IMF begged Pak, then Sri Lankan PM said, ‘No ghee by taking loan’, will pay India’s single penny
Today is no less than a festival for the financially bankrupt Pakistan. The vault of Pakistan, which is the hanger of China, is almost empty, the hands of the country are tight to buy from oil to ration. But on Wednesday, finally the world’s largest bank IMF was happy and opened the dam of about $ 6 billion in aid for the last 3 years for the Pakistan government. Along with this, stalled funding will also be available from Arab countries.
Shahbaz Sharif’s government is patting its back on this big relief. Prime Minister Shahbaz Sharif has considered it a big victory for Pakistan on the international stage. Pakistan has been fond of drinking ghee by taking loans in the past, so in such a situation, a new treasury of $ 6 billion has been found in the hands of the rulers of the country. On that, now it will also be able to get additional funding from China and Arab countries.
Sri Lanka’s thinking unlike Pakistan
While Pakistan is bursting firecrackers over the IMF’s debt, Sri Lanka’s thinking is the opposite. Sri Lankan Prime Minister Ranil Wickremesinghe said in Parliament on Wednesday that India’s financial aid is not a “charitable donation”, we have to pay every penny for it. He said that there should be a plan to repay these loans.
$ 4 billion loan taken from India
Wickremesinghe told Parliament, “We have taken a loan of US $ 4 billion under the Indian Line of Credit. We have requested more credit support from our Indian counterparts, but India will not be able to support us like this continuously. Even their help has its limits. On the other hand, we should also have a plan to repay these loans.”
Indian team will go to Sri Lanka
A delegation of the Government of India led by Chief Economic Adviser V Anantha Nageswaran will arrive here on Thursday. During its visit, the Indian delegation will try to assess the financial position of Sri Lanka and understand whether there is a need to provide another installment of financial assistance to the country.
Crisis deepens in Sri Lanka
Sri Lanka is facing the worst economic crisis since its independence in 1948, due to which there has been an acute shortage of essential commodities like food, medicine, cooking gas and fuel. They have faced complete collapse of our economy. This is the most serious issue facing us today. These issues can only be resolved by reviving the Sri Lankan economy. To do this, we must first address the crisis of foreign exchange reserves.
