Pakistan economic woes may deepen if IMF programme not resumed

Islamabad [Pakistan]: Pakistan could sink deeper into the quagmire if the International Monetary Fund (IMF) program is not resumed in the coming weeks, Al Arabiya Post reported.

The IMF is delaying the 24th loan and the Saudis and the UAE have warned Pakistan that they will no longer offer free meals. Pakistan should bring reforms and push them to the end. The Gulf allies conveyed the message to Prime Minister Shehbaz Sharif and new army chief General Asim Munir, who visited earlier, Al Arabiya Post reported.

The warning comes at a time when Pakistan is suffering from the chicken-and-the-egg syndrome. His financial woes were caused by his bad politics – or, friends ask: is it the other way around?

Pakistan is facing multifaceted crisis of existence of politics and economy with highly inactive status.

It is much more than democracy and debt. Short-term fixes and political engineering will not work this time.The country needs a radical break from past policies but no one wants to, reports Al Arabiya Post.

(www.aninews.in)

 

by Daily News Sri Lanka

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