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The Marriage of Inconvenience Continues with IMF

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Today, FM Ishaq Dar held an online meeting with Mr. Nathan Porter, IMF Mission Chief for Pakistan. The two sides discussed the progress made with the ongoing IMF program, particularly the impact of floods on the macroeconomic framework and targets for the current year.

The IMF indicated its willingness to sympathetically view the targeted assistance for the poor and vulnerable, especially flood affectees. Both sides agreed they would firm up expenditure estimates for flood-related humanitarian aid during the current year and forecasts of priority rehabilitation expenditure. In this regard, they shall expeditiously conclude engagement at the technical level for proceeding with the 9th Review. Minister Ishaq Dar reiterated the GOP’s commitment to completing the IMF program.

Pakistan needs to learn the lesson of a self-reliant economy. An import-based economy will render only international monetary embarrassments. Pakistan needs to focus on agriculture, industry, tourism, and services to improve its economic indicators. Growth is the only way forward for an economy. There is an elite capitulation of resources. Pakistan shall only come out of the shackles of the IMF if it grows.

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