PM Imran says 'Pakistan desparate for loan' to shore up economy

RIYADH: Prime Minister Imran Khan, who has arrived in Saudi Arabia to attend an investment conference, said the country was going through the worst debt crisis of its history.In an interview with British news website Middle East Eye, before departing for the kingdom PM had said: "we’re desperate for possible Saudi loans to shore up Pakistan’s economy."“The reason I feel I have to avail myself of this opportunity is because in a country of 210 million people right now we have the worst debt crisis in our history," PM was quoted as saying. Khan was reported to have said: "Unless we get loans from friendly countries or the IMF (the International Monetary Fund) we actually won’t have in another two or three months enough foreign exchange to service our debts or to pay for our imports. So we’re desperate at the moment." Imran Khan has been seeking alternatives to the tough conditions the IMF is likely to impose for loans.Prime Minister Imran Khan  has blamed the previous government’s policies for the ballooning current account deficit.It is Prime Minister's second visit to Saudi Arabia in just over a month. Imran Khan last toured Saudi Arabia on September 18.PM Imran’s participation in the conference "signifies our solidarity with the Kingdom in its efforts to become an emerging hub of international business and investment", the Foreign Office stated further.

from The News International - National https://ift.tt/2Cz7yEX

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