International Monetary Fund (IMF) a name known to all and sundry for multiple reasons but specifically this gigantic organization remains in limelight for purpose of lending hefty amount to the crises hit countries all around the globe. Yes, it can be said indubitably that IMF provides a fresh wave of air to the ramshackle economies of different countries out of its 190 members by supporting their people and the governments thru implementation of better economic policies, support in terms of exorbitant financing to reduce the level of poverty and unemployment to ease financial snags and difficulties that may come from time to time.

Yes, the intention of IMF is quite crystal clear which deems to be a judicious intent to save nations from the risk of bankruptcy or default in the long-run with complete shrewdness and caution.

Let’s go ahead for the answer to the question that why any country actually reaches out to IMF? It is simple, if any country is on the verge or near to its economic collapse and has also run out of foreign exchange reserves, then no other option is left except getting substantial financial assistance from IMF on certain prescribed rules and time frame to repay back the borrowed amount.

In recent years, considering the Pakistani scenario, it could be rightly asserted that our economy is consistently in doldrums since long time. The economic deprivation has reached to such a devastated extent that despite imposition of huge taxes on the public, our country’s economic disparity is still same as before. Let’s hope for the best in the years coming ahead that this economic deprivation will be over in a positive mode.

Published in The Daily National Courier, February, 17 2023

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