Prime minister Shehbaz Sharif and finance minister Ishaq Dar have been telling the nation — day in, day out — that the government has met all of International Monetary Fund’s (IMF’s) conditionalities.
But they don’t have any plausible answer to the protracted procrastination of the global lender over the stalled bailout or tranche that the country desperately needs to shore up its fast-dwindling foreign exchange reserves.
In my view, the IMF is likely to maintain its ambivalence over the pending tranche until a firm date for the elections to the national and provincial assemblies is announced, ending the current state of confusion and anxiety in the country.
Needless to say, this newspaper has been consistently urging the government to “become more proactive in evaluating economic policies and to make appropriate suggestions as the onus of these flawed decisions is not only being borne by the general public but would also have to be borne by all coalition partners in the forthcoming elections”.
Unfortunately, however, the government appears to be in a state of denial about the current politico-economic impasse in the country.
Sami Mustafa
Karachi
Copyright Business Recorder, 2023
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