Stories about International Monetary Fund (IMF)

No, the balance of payments crisis is not over – all because PTI did not do its homework on China

Imran Khan’s recent visit to China has now become the most discussed topic in drawing rooms, in the media and in the business world. This was touted as a monumental visit, given that this was the premier’s first visit to China, Pakistan’s most important friend and a significant player on the geopolitical front. With the current financial crisis in the background, the Pakistan Tehreek-e-Insaf (PTI) government was also looking to get an immediate loan from China for economic assistance. This visit would thus determine the relationship between Pakistan’s new government and China, and set the tone for the next ...

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‘Naya Pakistan’ – PTI’s best-selling joke

The verdict of the 2018 by-elections is in, with Pakistan Tehreek-e-Insaf (PTI) losing some of the seats it had previously won in the General Elections. Yes, their supporters will say the party has won more seats than the opposition, but the fact remains that losing seats which you previously won, and that too in the by-polls (which always favour the sitting government) is a bad sign. Things are not going well, and the electorate is noticing the sheer incompetence and cluelessness of the PTI government. I am trying to recall, but despite my best efforts cannot remember a comparable level ...

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We can go to the IMF for loans all we want – it still won’t fix the economic crisis

With the rupee falling against the US dollar, the stock exchange crashing, and foreign currency reserves hitting a new low, it is not out of place to suggest that Imran Khan’s government has been unable to hold a firm grip over the economic crisis. They may have deteriorated the situation further with the hike in electricity and gas tariffs, which has badly affected the middle and lower middle class as the prices of essential commodities is also on the rise. Then, of course, there was the perpetual indecision over going to the International Monetary Fund (IMF), only to finally ...

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Made in Pakistan: Why exporting apparel is the answer to Pakistan’s rising trade deficit

While buying a jacket from an international clothing brand in Pakistan, I was mildly surprised to find the tag ‘Made in Bangladesh’. Until recently, I was under the impression that these clothes were still manufactured in Pakistan. After all, we do export textile, which is simply raw fabric. Apparel is just one step ahead of textile, with value added to the fabric by converting it into readymade garments. Then why we are importing apparel from Bangladesh when we have a huge textile sector at home? And what lessons can our deteriorating economy learn from Bangladesh’s apparel exports? Due to a massive ...

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