Pakistan's Secret Arms Sales to Ukraine Helped Secure Controversial IMF Bailout, Exposing Backroom Deals

Secret Pakistani arms sales to US helped secure controversial IMF bailout earlier this year, per report by The Intercept
Arms sales were to supply Ukrainian military, showing Pakistani involvement despite US pressure to take sides
Maneuvering between elites rarely exposed publicly, even as public pays price of IMF bailout terms
Protests in Pakistan over harsh IMF reforms, strikes in response to bailout package measures
After Khan ouster, Pakistan emerged as useful ally to US in Ukraine war, now repaid with IMF loan

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8/27/2023

Breaking Pakistan’s dirty IMF habit

Pakistan's recent financial aid and investment partnerships, including with the IMF, Saudi Arabia, UAE, and China, provide temporary relief from economic challenges, but the country must address issues such as low growth, high inflation, unemployment, and limited foreign exchange reserves through deregulation, investment in education and technology, tax reform, privatization, and political stability to achieve lasting prosperity.

9/8/2023

Pakistan's Interim Government Focuses on Reviving Economy and Fulfilling IMF Agreements

Pakistan's interim government is prioritizing economic revival and fulfilling international obligations, including agreements with the International Monetary Fund (IMF), to address the stagnant economy and financial issues. They aim to improve the overall business and investment environment, increase inflow of dollars from multilateral institutions, and reduce expenditures while upholding international agreements.

9/19/2023

IMF: Petrol smuggling into Pakistan costs billions in lost revenue, benefits terrorists

The International Monetary Fund (IMF) has expressed concerns about the rampant smuggling of petroleum products in Pakistan, which costs the country Rs10 billion annually and is being used as a key source of financing for terrorists, calling for increased vigilance and security measures at the borders.

10/8/2023

Pakistan to Receive IMF Funds Despite Missing Some Fiscal Targets

Pakistan is likely to receive the next tranche of the IMF stand-by arrangement, despite missing some targets, according to a brokerage report, as the country has met certain criteria such as net international reserves and foreign currency positions. However, the report noted that Pakistan has yet to implement the gas price adjustment agreed with the IMF, which was a prior action for the completion of the second review of the program.

10/13/2023

Pakistan Hits IMF Reserves Target, Unlocking Next Bailout Installment

Pakistan's central bank has met its forward book target of $4.2 billion set by the IMF and is positioned well to meet additional targets, while an IMF delegation is set to evaluate the country's performance and potentially approve the next installment of $700 million in financial assistance.