Pakistan situation different from Sri Lanka: SBP

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The State Bank of Pakistan on Wednesday said that the country’s situation is completely different from Sri Lanka and after the no-confidence motion against the former Prime Minister Imran Khan, the International Monetary Fund’s confidence in Pakistan has decreased but there is no option left other than IMF.

In this regard, SBP official said the State Bank is constantly monitoring the economic situation and also taking steps to stabilize the rupee, adding that Pakistan will never default because the country’s situation is completely different from Sri Lanka.

“Unnecessary imports have been reduced in Pakistan and the government has made all the difficult decisions now there are no difficult situations, the current financial year 2022-23 is a difficult year for the country’s economy,” officials added.

SBP added that after the no-confidence motion against Imran Khan, the confidence of IMF in Pakistan dropped, but we had no option left other than IMF.

Officials added that in case of political instability, the IMF has no problem negotiating with the caretaker government, adding that friendly countries will also provide financial support to Pakistan along with IMF.

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