Pakistan and the International Monetary Fund

[2] Due to the high unpredictable nature of its economy and its dependence on imports, the IMF has provided loans to Pakistan 22 times, with its most recent being in 2023.

[3] Pakistan joined IMF on 11 July 1950 as newly established country was facing fiscal problems since its creation in 1947 from British India.

For this, IMF lent out US$25,000 (equivalent to $264,014 in 2023) [originally the loan-amount is given in SDR;[4] for this article it is considered to be 1SDR = 1USD] to Pakistan on standby arrangement basis on 8 December 1958.

[5] In 2008, Yousaf Raza Gillani received the largest-ever US$7.6 (equivalent to $10.76 in 2023) billion loan from the IMF,[6] however a total sum of $4,936,035 had been withdrawn.

For this, they arranged friendly loans from Saudi Arabia, United Arab Emirates and China to avoid tough IMF conditions.

[7] On 30 June 2023, the IMF and Pakistan reached an agreement at the staff level for a stand-by arrangement worth $3 billion.

[10] Later in September 2024, the executive board of the IMF approved a USD 7 billion loan for Pakistan, which the country will receive in installments over 37 months.