Pakistan Secures Massive $7 Billion Loan From IMF, Aims To Stabilize Economy And Address Growing Financial Challenges | ABP Live

The Pakistani government had approached multiple international financial institutions, including the IMF, World Bank, and Asian Development Bank, seeking assistance. However, none were willing to lend money easily. After agreeing to the strict conditions set by the IMF, Pakistan has taken several significant steps to navigate through its financial crisis. Among these decisions, the government has cut approximately 1.5 lakh jobs as part of its austerity measures. These actions are aimed at fulfilling the IMF's requirements and securing the much-needed $7 billion loan to stabilize the economy. The job cuts, while controversial, are seen as necessary to meet the stringent fiscal reforms demanded by the IMF. Pakistan now faces the challenge of balancing economic recovery with the social impact of these tough measures.