Bloomberg, an American magazine that monitors economic affairs, has said that if the political confrontation between the government and Imran Khan continues like this, the Pakistani rupee will fall further, which will cause further inflation in the country.
Bloomberg said in his report that there are increasing concerns about the lack of a loan deal with the IMF, capital is being transferred from Pakistan abroad, and the matter has worsened with the arrest of Imran Khan this month, default after June. The risk will increase further, and no further payment received from the IMF.
According to the report, the transactions with the Asian Development Bank and the World Bank are also at a standstill and all of this is related to the approval of the IMF. From June and July to September, payments of $5 to $6 billion have to be made, but our foreign reserves are $4 billion, this will increase the risks and increase the pressure on the Pakistani currency.
The report stated that the dollar rate is trading at more than 300 rupees in the open market, so it seems that the country’s economic situation will become more complicated in the new financial year.—Agencies
