Save Our Pak
A total of 86 countries around the world owe the International Monetary Fund (IMF) more than 162 billion dollars in loans.
The annual meetings of the IMF and the World Bank are currently being held in Washington, where global financial problems are being discussed. The IMF has shown concern about the ongoing global economic instability and the impact of U.S. trade restrictions on world markets.
According to news agencies, the IMF is often known as the “lender of last resort.” However, experts believe that IMF loans often make economic problems worse because they come with tough conditions. These loans usually lead to higher inflation, unemployment, and budget cuts in many countries.
The number of IMF member countries has grown from 44 to 191, and each country contributes based on the size of its economy.
In 2024, around 50 countries earned a combined 5 billion dollars in interest payments from the IMF. The IMF loans are measured in Special Drawing Rights (SDR) units. At present, 86 countries owe a total of 162 billion dollars to the IMF.
Argentina has become the largest borrower from the IMF, owing more than 57 billion dollars. Ukraine comes second with 14 billion dollars in debt, while Egypt ranks third with 9 billion dollars owed to the IMF.
Reported by Save Our Pak
