In IMF PM has been hostaged: FM Shah Mehmood Qureshi. Click on the link to see full news on BAADBAN TB

In IMF PM has been hostaged: FM. Foreign Minister Shah Mehmood Qureshi on Tuesday stated the Pakistan Tehreek-e-Insaf (PTI) government inherited an economic challenge, forcing the country to approach the International Monetary Fund for financial help.

“Yes, we are going to the IMF, but the question remains why we have to take the help of the IMF. Governments go to IMF when there’s macroeconomic instability in the country,” FM Qureshi said while speaking in the Senate.

“Imagine, a government takes office and is told that the forex reserves are only enough to last six weeks because of the actions of the previous leaders, it rings alarm bells. If you’re told that trade deficit is the biggest ever in the history, then it does raise concerns,” the foreign minister said and added that the PTI government tried to avoid going to IMF by taking help of friendly countries.