Pakistan is currently going through its worst phase. According to the reports, this is the biggest economic crisis for the country in the last 75 years. Pakistan now has the only recourse left with the International Monetary Fund (IMF) to meet the shortage of dollars. The inflation rate in Pakistan has broken all the records till date. In the month of May, the inflation rate here has reached 38 percent. This is the highest for the country after independence. For information, let us tell you that since 1957, inflation figures have been kept in Pakistan. On the other hand, according to the information that has come out, the inflation rate has increased due to the continuous increase in the prices of food grains. The situation has become even worse for Pakistan because all the ways of getting loans from the International Monetary Fund have also been closed.
IMF refused to give loan
Shahbaz Sharif appealed to the International Monetary Fund, which was rejected. Shahbaz Sharif had also requested for a loan which has been turned down. If experts are to be believed, Pakistan has no other option but to appeal to the IMF once again. For information, let us tell you that in the month of May last year in Pakistan, the inflation rate was recorded at 13.76 percent, but now it has reached its highest level. The Shahbaz government in Pakistan had appointed the new Finance Minister Ishaq Dar because, he hoped that Dar would be successful in stopping the rising inflation and would also get a loan from the IMF. Dar failed miserably in both these tasks.
Pakistan became the most expensive country in Asia
The situation has become so bad for Pakistan that now it has become the most inflationary country. Before Pakistan, Sri Lanka was the country with the highest inflation rate in Asia, but now Pakistan has overtaken that too. While inflation is increasing rapidly in Pakistan, on the other hand, in Sri Lanka, the inflation rate is coming down very fast in the last 8 months. The inflation rate in Sri Lanka was recorded at 25.2 percent in the month of May, which was recorded at 35.3 percent in the month of April. Let us tell you that after being denied a loan from the IMF, like Sri Lanka, Pakistan is also in danger of defaulting.
