Pakistan Facing Financial Collapse: During a time when tensions between India and Pakistan are on the rise, Pakistan’s government inserted itself into an unusual dilemma when the country’s Economic Affairs Division posted a tweet on its account on X (Twitter) requesting foreign loans as the country recorded purportedly dire losses at the instance of an adversary.
The statement read, “Government of Pakistan asks international partners to provide more loans after suffering vast losses at the hands of the adversary. In the face of escalating war and market crashes, we ask international allies to contribute towards de-escalation. The country must hold on.” This statement wondered about the financial stability of Pakistan, hinting at the financial struggle it is facing due to the persistent geopolitical tensions.
The moment the post went viral, Pakistan’s Ministry of Economic Affairs refuted saying that they did not make the statement and implied that their X account was hacked and stated that they never made a formal appeal for economic help. The denial then was questionable as it occurred just a few hours before an IMF summit in Washington when Pakistan’s appeal for the bailout package would be discussed.
India’s Foreign Secretary Vikram Misri addressed the issue, briefing that India’s executive director in the IMF would also argue on the country’s behalf regarding Pakistan’s economic status. The majority of the last 24 IMF assistance packages for Pakistan failed to create enduring stability, which was proof of greater and deeper structural flaws in the country’s economy.
During the economic downturn, Pakistan’s military launched a string of missile and drone attacks along India’s Western frontier, attempting to attack military camps in Jammu, Pathankot, Udhampur, and other places. The Indian military successfully repelled the attacks, ensuring that Pakistan was unable to cause any damage and that India remained secure.
Also Read: Pakistan Denies Missile, Drone Attacks on Indian Military Facilities
The military and economic gains of Pakistan confirm that the country is facing serious challenges at present. Whether or not its request for economic assistance was genuine or merely the result of a cyber attack does not change the fact that the country remains strategically and economically weak. One thing is certain that Pakistan Facing Financial Collapse amid ongoing tensions,
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