Consider the evidence: Embattled Pakistan bets big on IMF loan

Pakistan's foreign exchange reserves can only cover two months of imports, and the FATF's decision to keep it in the 'grey list' has worsened the situation

Very little good news is coming out of Pakistan, especially relating to its economy, ahead of the July 25 elections.
 
The Pakistani rupee has devalued 10 per cent in the last one year and is likely to go through another jolt. Its foreign exchange reserves are sufficient only to cover two months of imports. In June, rating agency Moody’s downgraded Pakistan to negative. And now, the Financial Action Task Force’s (FATF’s) decision to keep Pakistan on its grey list and offer a 25-point laundry list of things the country must do to get out of it  — specifically related