Pakistan set to become 4th largest IMF debtor
Pakistan will become the 4th biggest International Monetary Fund (IMF) borrower in the world after receiving additional loans of 3 billion US dollar in the next nine months under the standby arrangement from the global lender.
According to the data, as on March 31, 2023, Pakistan was ranked 5th in the list of countries with the highest borrowing from the IMF.
However, after receiving another 3 billion dollar in the next nine months under the standby arrangement made two days ago, Pakistan will move to the 4th place in this list.
Earlier, in terms of loans from the International Monetary Fund, Argentina ranked first with 46 billion dollar, Egypt stood at second place with $18 billion, Ukraine came in third with 12.2 billion dollar, Ecuador took the fourth spot with $8.2 billion, and Pakistan was at 4th position with 7.4 billion dollar.
Now with loans worth 10.4 billion dollar, Pakistan will overtake Ecuador to become the world's fourth-largest IMF borrower.
Pakistan also holds the title of being the largest IMF borrower in the Asian region.
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