IMF gives $ 2.75 Bn To Pakistan below SDR Programme Amid COVID-19 crisis

The overseas monetary Fund (IMF) on Tuesday gave a sum of $2.75 billion to Pakistan below a different Drawing Rights (SDR) programme as it continues to battle against coronavirus. The Asian nation is witnessing a surge in COVID-19 infections partly fuelled through the highly transmissible Delta variant, which has depleted its overseas reserves. experts have predicted that the IMF provide may pull the nation out of the economic disaster.

The grant is part of a different Drawing Rights (SDRs) fund corresponding to US$650 billion, which is aimed at boosting world liquidity amidst the ongoing disaster. In an announcement, IMF managing director Kristaline Georgieva said that the SDR allocation will give further liquidity to the international financial system, supplementing nations' overseas exchange reserves and cutting back their reliance on greater costly home or exterior debt. The legitimate introduced that the countries can use the area offered by way of the SDR allocation to support their economies and "step up their combat against the crisis".

This comes as the deadly coronavirus is wreaking havoc across the nation with low COVID vaccination and ineffective lockdowns. As per the latest tally by using the area health agency (WHO), the nation has suggested a complete of 1,123,812 situations with 24,923 deaths. moreover, the country of over 212 million has administered a total of fifty,478,166 vaccine doses. 

This comes days after the Imran Khan-led executive blamed India for the virus spread in the country. In a baseless allegation, Pakistan's guidance and Broadcasting Minister and Pakistan Tehreek-e-Insaf (PTI) chief Fawad Ahmed Chaudhry has blamed India for the COVID-19 situation in Pakistan. while a number of nations across the globe struggle to include the Delta variant, Chaudhry claimed that the area "was near victory" against the pandemic. 

Taking to Twitter, Fawad Chaudhry asserted that the Modi govt's 'irresponsible' dealing with of COVID-19 has impacted Pakistan's efforts to handle the pandemic. He introduced that the condition in India has pushed Pakistan into deep predicament. additionally, he also attacked the Indian govt for failing to handle the Delta variant spread and said that 'Pakistan is again at the mercy of virus'.

(photo: AP)