Pakistan: Now or Never?

Perspectives on Pakistan

IMF bailout: the coming medicine for Pakistan?

Photo

Is the International Monetary Fund going to force Pakistan to swallow its classic bitter pill – which to some is worse than the disease – as a price of rescuing it from economic meltdown?

IMF Managing Director Dominique Strauss-Kahn has said loans to countries hit by the global financial turmoil would be faster, and with fewer conditions, than in the past. Conditions for lending should be defined by what is needed for the programme and should not be an “attempt to fix the world”, the IMF Survey magazine quotes him as telling staff. However, on the ground, and especially in Pakistan, there is feverish speculation about the price the nation of 160 million people could be asked to pay in return for a loan to stave off financial collapse.  (more…)

  •