Argentina is the top borrower of IMF and it is at the top in terms of taking loan from IMF and not IMF.
Pakistan PM Shehbaz Sharif
Country takes maximum loan from IMF: While India and Pakistan were engaged in a conflict, the International Monetary Fund gave a loan of 1 billion dollars to Pakistan, a move that was criticised all over the world. We all know that Pakistan is largely dependent on the IMF’s charity but let us surprise you with the fact that the largest borrower of IMF is not Pakistan but a South American country named Argentina.
As per a report by TV9 Hindi, Argentina is the top borrower of IMF and it is at the top in terms of taking loan from IMF. The second country in the list is Ukraine which owes IMF 10.7 billion SDR. At the third position, Egypt has a debt of 8.2 billion, and the fourth position, Pakistan has a debt of 6.9 billion dollars.
Pakistan and IMF to hold virtual talks on fiscal budget Islamabad
Pakistan and the International Monetary Fund (IMF) are expected to hold a virtual round of negotiations and talks for the upcoming fiscal budget 2025-26 later, a report by IANS news agency said. Both sides are expected to discuss circular debt of the gas sector and other parts of the next budget with Pakistani officials expected to present a plan for ending the gas sector’s circular debt.
During the first round of talks with the IMF delegation in Islamabad, it was demanded of the Pakistan government to provide the data of the gas sector companies. Government sources say that Pakistan is expected to produce the five-year performance of the gas companies to the IMF during the virtual talks.
The IMF has raised serious questions over the towering circular debt of the gas sector, which stands at a whopping Rs 2800 billion.
“The IMF will be briefed about the gas companies’ profit, loss data, cash flow and the balance sheet,” the report said.
(With inputs from agencies)