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Pakistan, IMF and politics behind the numbers
Pakistan’s relationship with the International Monetary Fund (IMF) is decades old. Pakistan joined the IMF in 1950 and entered its first Stand-By Arrangement in 1958. Since then, the country has entered into 25 IMF arrangements, moving repeatedly between periods of stabilisation, reform and renewed balance-of-payments difficulties. The latest cycle includes the 2013 Extended Fund Facility, the unfinished 2019 EFF, the 2023 Stand-By Arrangement and the current 2024 Extended Fund Facility, supplemented by the Resilience and Sustainability Facility. This history raises a question that is more com...
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