Fake News Busted: Pakistan Borrowed $20 Billion not $53 Billion from IMF to Date

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While Pakistan’s government formally asked International Monetary Fund (IMF) for financial assistance, a document was circulated on social media, which claimed that Pakistan had borrowed loans of $53.78 Billion from IMF. The document also claimed that last PML-N government (2013-18) borrowed $39 Billion of these loans in last five years.
This document went viral on social media and was shared by the supporters of government in the pretext that Pakistan has borrowed so much in past and therefore current decision of PTI government to knock the doors of IMF should not be criticized.
Balochistan Voices verified the IMF loans to Pakistan data and concluded that the document shared inaccurate information.
Balochistan Voices used data from IMF website and converted the Special Drawing Rights (SDRs) to U.S Dollars using the IMF provided historical currency exchange convertor.
Balochistan Voices found that Pakistan had borrowed $20.44 Billion from IMF since 1965. PML-N government (2013-18) borrowed just $6.73 Billion and PPP government (2008-13) borrowed $7.31. Complete details of IMF loans to Pakistan can be found below:
IMF Loan History of Pakistan

Year

Government/Leader

Amount of Loan ($)

2013

PML-N

6.73 Billion

2008

PPP

7.31 Billion

2001

Pervez Musharraf

1.09 Billion

2000

Pervez Musharraf

596 Million

1997

PML-N

517 Million

1995

PPP

437 Million

1994

PPP

412 Million

1993

Moin Qureshi (Caretaker setup)

124 Million

1988

PPP

776 Million

1981

Zia ul Haq

836 Million

1980

Zia ul Haq

712 Million

1977

PPP

170 Million

1974

PPP

159 Million

1973

PPP

159 Million

1972

PPP

178 Million

1968

Ayub Khan

159 Million

1965

Ayub Khan

79 Million

Total Loans Received from IMF

20.44 Billion

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