Stabilisation sans reform |
Pakistan has secured yet another lifeline. On Monday, the IMF's Executive Board approved a $1.3 billion disbursement after granting waivers for several missed targets and extracting fresh commitments from Islamabad to plug a widening revenue gap. The decision keeps the country's $8.4 billion Extended Fund Facility and Resilience and Sustainability Facility programmes on track.
What's surprising is that Pakistan yet again stumbled on key conditions, but ultimately walked away with........