Pakistan and IMF Reach $7 Billion Dollar Bailout Deal, In Response to Economic Crisis
On Sept. 25, the IMF reached a deal with Pakistan, securing the nation the seven billion dollars needed to pay its debts and stay afloat. The news was uplifting to the country that has an external debt of $130 billion, with $90 billion due over the next three years. The International Monetary Fund, the financial wing of the United Nations, has continuously lent out money over recent years to Pakistan as the nation struggles to pay back interest on decades-old debt. Pakistan has requested a staggering twenty-three bailouts. This request comes as the nation teetered on being unable to pay back its interest obligations, in effect defaulting.
India Introduces Nuclear Naval Submarines as Tensions with China Persist
On August 29th, India unveiled a new missile submarine with possible nuclear capabilities in an effort to compete and assert power against China in light of their ongoing dispute.
Blasphemy Laws in Pakistan Heighten Political Unrest and Censorship in Pakistan
This past Thursday, September 19th, in Pakistan two individuals were killed over accusations of Blasphemy. The first, Dr. Kanbhar, was shot dead by police after a mob moved to attack him.
Pakistan and China Hold Largest Ever Navy Drills
On Nov 11, the Pakistan Navy and the Chinese People’s Liberation Army Navy (PLAN) launched the third edition of their “Sea Guardian” maritime drills. The exercise comes as a move to strengthen Sino-Pakistani ties and enhance strategic capabilities in jointly safeguarding the oceans.
Pakistani Government Creating Stringent Requirements for Afghan Refugees
On Oct. 3, the Pakistani government announced that all unregistered Afghan refugees will be forced to leave the country by November 2023. Specifically, Pakistan’s Interior Minister Sarfraz Bugti announced the crackdown order on “illegal immigrants.”
Pakistan Inches Closer to IMF Loan After Saudi Arabia Comes to Its Rescue
Saudi Arabia greenlighted a $2 billion payout to Pakistan on Thursday, April 6, which will be a crucial step toward Pakistan securing IMF aid.