September 23, 2023
Economy Pakistan

Pakistani foreign minister accuses IMF of unfair treatment amidst climate crisis and refugee influx

Pakistani foreign minister accuses IMF of unfair treatment amidst climate crisis and refugee influx

In a recent interview with the Associated Press, Pakistani Foreign Minister Bilawal Bhutto-Zardari criticized the International Monetary Fund (IMF) for its lack of support towards Pakistan amidst the country’s climate crisis and refugee influx from Afghanistan. Despite supporting the expansion of revenue collection and the notion that the wealthy should pay more taxes, Zardari claimed that Pakistan has been unable to achieve structural tax reform through 23 IMF programs.

Zardari argued that at a time when Pakistan is grappling with a climate catastrophe and an increase in terrorist activities, the IMF is prolonging talks on the bailout, preventing the country from receiving the necessary funding to aid the poorest affected by last year’s floods. Zardari further questioned the IMF’s emphasis on tax reforms amidst such pressing concerns.

While expressing gratitude towards China for a recent $1.3 billion loan, Zardari emphasized Pakistan’s healthy economic relationship with China. In terms of energy needs, he stated that Pakistan is willing to work with anyone, including Russia, to provide relief to those paying for expensive fuel. Zardari also commended the gas pipeline from Iran to Pakistan but noted geopolitical complications that prevent its immediate completion.

Zardari’s comments reflect Pakistan’s frustrations with the IMF’s conditionalities and lack of consideration for pressing issues. With the climate crisis and refugee influx exacerbating existing economic challenges, Pakistan seeks urgent financial aid to address the needs of the most vulnerable.

Foreign Minister Bilawal Bhutto-Zardari’s statements shed light on Pakistan’s economic struggles amidst the ongoing climate crisis and the influx of Afghan refugees. He criticized the IMF’s approach, claiming that the organization is not being fair to Pakistan, and expressed gratitude towards China for its recent loan.

He also mentioned Pakistan’s energy needs and expressed openness to working with Russia. The minister’s comments highlight the importance of addressing the pressing issues faced by Pakistan and the need for international cooperation to ensure the country’s economic stability and the well-being of its people.

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