ISLAMABAD: The findings of a recent survey conducted by Gallup and Gilani Pakistan say more than half (56%) of Pakistanis believe that a recent International Monetary Fund loan offered to Pakistan would worsen the country's economic problems.
Last month, the IMF board approved the seventh and eighth reviews of Pakistan's bailout programme, allowing for the release of over $1.1 billion to the cash-strapped economy.
According to Gallup survey findings released this week, a nationally representative sample of adult men and women from across the country was asked the following question:
"Recently, IMF (International Monetary Fund) offered aid to Pakistan for relief from the economic crisis. Some people believe that accepting this aid will worsen Pakistan’s economic problems, while others believe that will not be the case if aid is accepted. What do you think?”
"In response to this question, 56% said that it will worsen Pakistan’s economic problems while 29% responded that it will not worsen Pakistan’s economic problems, Gallup said. "16% said they did not know or did not respond."
The number of people who thought the IMF aid would worsen Pakistan’s economic problems increased with an increase in levels of education.
"47% people with no education, 58% of those with secondary education and 76% of those with high levels of education think that Pakistan’s economic problems will worsen with the acceptance of IMFs aid," the survey concluded.
The IMF has also agreed to extend Pakistan's loan programme by a year and increase the total funding by 720 million special drawing rights, or about $940 million at the current exchange rate.
Many experts say the funds will be a lifeline to the South Asian country now also suffering from devastating floods that have killed more than 1,500 people and inflicted at least $30 billion in damages.
