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Pakistan promises “extremely harsh” steps to address the economic crisis and begs the US to assist an IMF loan

Pakistan has taken several steps to address the economic crisis, including introducing a series of austerity measures and economic reforms, freezing government expenditures, and seeking assistance from the International Monetary Fund (IMF). The Pakistani government has also made a plea to the United States to help facilitate a loan from the IMF. The government has promised to take “extremely harsh” steps to address the crisis, including cutting government subsidies, restructuring government debt, and allowing the currency to float freely on the open market. Additionally, the government has announced plans to increase taxes on the wealthiest segments of society.