IMF Demands Clarity on Pakistan’s Bitcoin Power Allocation

Pakistan’s decision to allocate 2,000 megawatts of electricity for Bitcoin mining and AI data centers has sparked concern from the International Monetary Fund (IMF). The IMF seeks clarification on this allocation as it potentially impacts fiscal stability and resource management. This request comes amidst Pakistan’s efforts to revitalize its economy with plans to stimulate activity by reducing interest rates. 🧠 💰 Pakistan’s crypto initiative, backed by CEO Bilal Bin Saqib of the Crypto Council, aims to establish a national Bitcoin reserve through a planned national Bitcoin wallet and allocation of resources for digital asset growth. However, this move has drawn scrutiny from the IMF due to Pakistan’s existing energy shortages and concerns over resource distribution. 🔌 The IMF delegation is currently evaluating this initiative and its implications on Pakistan’s economic strategies. These discussions highlight a complex balancing act between exploring crypto technology for economic growth and navigating regulatory frameworks proposed by international financial institutions. 🌎