The party which comes to power in the next elections will have to undertake major economic reforms and chart out a new future for the citizens
While the standby arrangement with the International Monetary Fund (IMF) helps Pakistan to avert debt default, it is a temporary reprieve that provides only limited breathing space. The short-term arrangement will momentarily restore some confidence. But a fundamental change in policy direction is needed if the country is to address its economic crisis on a sustainable basis and establish durable economic stability.
Financing requirements to meet external debt obligations are an estimated $25bn this fiscal year. This necessitates mobilising additional funds. It means Pakistan will have to negotiate a longer-term funding deal with the IMF down the road.
Financing requirements to meet external debt obligations are an estimated $25bn this fiscal year. This necessitates mobilising additional funds. It means Pakistan will have to negotiate a longer-term funding deal with the IMF down the road.