Published by: CNBC-TV18.com
Debt-laden Pakistan to rank fourth among International Monetary Fund (IMF) borrowers, after receiving fresh $3 billion loan over nine months in standby arrangement.
The deal, which still needs to be approved by the IMF's board, comes after an eight-month delay
Cash-strapped Pakistan is facing an acute balance of payments crisis because of the spillovers from the war in Ukraine and other domestic challenges.
Pakistan, the largest IMF borrower in Asia, ranked fifth globally in borrowing from the IMF as of March 31, 2023. Here's a look at IMF's largest debtors at present
Other Asian countries that borrowed from the IMF, are Sri Lanka, Nepal, Uzbekistan, the Kyrgyz Republic, Armenia (West Asia) and Mongolia etc. Still these countries are far behind Pakistan in terms of taking loans from the global lender.