Pakistan pleads for loans amid economic crisis
Pakistan's economic situation has worsened due to India's attacks, due to which it is seeking financial help in international forums. India has destroyed Pakistan's air defense system and Karachi port. Amid the possibility of joining the FATF's gray list, Pakistan has appealed for a loan on social media.
Amid India-Pakistan tensions, Pakistan is facing challenges from multiple fronts. The Indian government is causing significant disruption in Pakistan through Operation Sindoor, while Pakistan is also experiencing severe financial difficulties. India's offensive has inflicted substantial damage on Pakistan, including the destruction of its air defense system and the port of Karachi. As Pakistan struggles with these setbacks, it is once again seeking aid from other nations. The country's Department of Economic Affairs has taken to the social media platform X to request loans from other countries.
Seeking loans from other countries
The Economic Affairs Division of the Government of Pakistan has posted on X Account begging the World Bank and the world. "The Pakistani government requests additional loans from global allies following significant damages inflicted by adversaries. In the context of a growing conflict and declining stock markets, they call on international allies to assist in reducing tensions and encourage the nation to remain steadfast."
Pakistan to be included in FATF's grey list
India has urged the Financial Action Task Force (FATF) to place Pakistan on the gray list. Additionally, ahead of a significant International Monetary Fund (IMF) meeting, India has signaled its intention to oppose the relief package proposed by the IMF for Pakistan and may express its stance to the global entity.
India is urging for Pakistan's re-entry into the FATF's gray list, claiming that international aid and financial support from multilateral bodies are being diverted to fund terrorism. Foreign Secretary Vikram Mistry stated that India's executive director at the IMF will advocate for this at the board meeting on Friday.