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🚨There’s hope for Pakistan!🚨 It has secured another IMF loan!!💸 🤔 What happened?

After months of negotiations with IMF officials, Pakistan has successfully secured a new $7 billion loan from the lender! 🌟 According to the government, this 37-month deal will pave the way to "cement macroeconomic stability and create conditions for stronger, more inclusive, and resilient growth." 💪✨ However, to clinch this agreement, Pakistan had to implement several challenging reforms. 📉⚖️

🧐 Like what?

To secure the deal, Pakistan will:

🔄 Phase out incentives for its SEZs launched in 2012 to attract foreign investment. 📈 Expand its tax net to include more of the agricultural sector. 💡 Increase energy tariffs. 📉 Reduce the fiscal deficit to 5.9% from 7.4% in the coming year.

However, achieving stability won't be easy as a staggering 50% of the government’s income will be used to service its debt obligations in 2024! 💸⚖️

😲Interestingly: This will be Pakistan’s 24th IMF loan in less than 70 years! The Pakistani government has claimed that this will be its last loan as it aims to make structural reforms and boost economic stability!! ❓Can Pakistan survive without external help? Follow Jobaaj Stories (the media arm of Jobaaj.com Group for more)

About Jobaaj Stories

Jobaaj Stories began as the storytelling branch of Jobaaj and has since expanded to cover news, inspiring stories, and valuable information. Our mission is to educate and inspire young professionals and students through storytelling, enriching you with information and motivation.