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A regular client of the International Monetary Fund (IMF), investors are asking whether Pakistan’s 13th loan programme since the late 1980s will finally break a cycle of financial crashes and bailouts.
Pakistan’s history of taking the lender’s money while dragging its heels on economic reforms suggest otherwise. With Islamabad now formally requesting IMF aid — seeking to raise $6 billion to more than $12 billion — it will also face more scrutiny over debt owed to China. US Secretary of State Mike Pompeo has said he will oppose any use of IMF funding to repay loans to Beijing.
Pakistan’s history of taking the lender’s money while dragging its heels on economic reforms suggest otherwise. With Islamabad now formally requesting IMF aid — seeking to raise $6 billion to more than $12 billion — it will also face more scrutiny over debt owed to China. US Secretary of State Mike Pompeo has said he will oppose any use of IMF funding to repay loans to Beijing.
