The International Monetary Fund (IMF) has approved a $7 billion loan for Pakistan, with the first $1 billion to be disbursed immediately. This marks Pakistan’s 25th loan from the IMF, showcasing long-standing economic struggles. The bailout program necessitates robust policies and reforms for economic stability.
Pakistan’s economy, plagued by financial mismanagement, relies on loans, with the latest aimed at stabilizing and enhancing resilience. Despite pledges for fiscal responsibility, economic woes persist, evident in heightened living costs and a surge in beggars in foreign cities.
Improved relations with India could bolster Pakistan’s economy, urged by the trading community for enhanced trade. However, the country’s ‘Deep State’, controlled by the military, dictates foreign policy. Historically favoring hostilities with India, the military benefits from turmoil, hindering peace prospects and perpetuating cross-border terrorism.
Lacking democratic autonomy, Pakistan’s governance remains influenced by the military, impeding progress and perpetuating economic and social disparities. Public unrest over military dominance and economic strains persists, underscoring the need for systemic change and reduced military intervention for sustainable development.
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