Bankrupt Sri Lanka gets 17th bailout package from IMF, poor Pakistan still yearns for loan

IMF Bailout Package For Sri Lanka: Sri Lanka, which is in economic crisis, has received an economic package from the International Monetary Fund (IMF). The IMF had recently approved $3 billion as a rescue package for Sri Lanka, under which it has received the first installment of $330 million. Sri Lankan President Ranil Wickremesinghe himself informed the Parliament about this.

Explain that the Sri Lankan government took steps according to the conditions of the IMF, after being satisfied that the IMF approved the relief package. The special thing is that for the first time the funds received from IMF can also be used for government expenditure. However, the package talked about will be given to the Sri Lankan government over a period of four years.

Now this neighboring country will not remain bankrupt!
This package is going to rescue the bankrupt Sri Lanka from the economic crisis. This is the 17th IMF bailout for Sri Lanka. According to Sri Lankan media, this is the third bailout since the end of the decades-long civil war in 2009. The government there will also be able to use the bailout package received from the IMF for its own expenses. President Wickremesinghe said his government officials would begin the next round of talks with bondholders and bilateral creditors in the third week of April.

Poor Pakistan’s hands still empty
Here, another neighboring country of India, which is in trouble, Pakistan is still waiting for IMF bailout. The government there has been manipulating the IMF officials for months. The burden of foreign debt on them is continuously increasing and inflation has reached close to 31%. Apart from this, Pakistan’s foreign exchange reserves are on the verge of ending.

When the IMF delegation came to Pakistan in February, the Pakistani government asked the IMF for a fund of $1.1 billion to deal with the economic crisis, but the IMF delegation went back from Islamabad without giving anything.

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