IMF supports Pakistani authorities with relief, rehabilitation for flood victims.

IMF supports Pakistani authorities with relief, rehabilitation for flood victims.

The International Monetary Fund (IMF) Building in Washington, USA — AFP/Files
The International Monetary Fund (IMF) Building in Washington, USA — AFP/Files

the International Monetary Fund (IMF) On Sunday (29) he expressed his sympathy for the Pakistani flood victims and said it was “deeply saddened” by the devastation caused by the country’s natural disasters.

“Our sympathy goes to the millions of flood victims. We will work with others. in the international community to support under the current program Official relief and recovery efforts and especially their ongoing efforts to help those affected by the floods. while ensuring sustainable policy and macroeconomic stability,” said Esther Perez Ruiz, national representative of the IMF. Reutersfollow Geo.tv.

Although the IMF program restarts after a seven-month hiatus, Pakistan is still under a serious dollar liquidity crisis. flood flood has made macroeconomic fundamentals worse

Meanwhile, reports by several leaders and economists suggest that Pakistan should request the IMF for rapid financing (RFI) or funding facilities related to natural disaster response. Islamabad has yet to make new requests on expectations of a warm response from global lending organization.

The under $6.5 billion IMF project was restored in late August. After a halt in February 2022 under the previous PTI-led regime when it provided unsupported fuel and electricity subsidies.

The exchange rate has been under immense pressure in the past few days. with the rupee rising 9% against the US dollar,” a senior official said while speaking to news here on friday

“The situation is getting worse as demand for imported goods has increased dramatically. But the country doesn’t have enough dollars. “Without improving the dollar injection Pakistan’s macroeconomic vulnerabilities will not go away,” the source added.

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