By: Khurram Abbas
International Monetary Fund Managing Director Kristalina Georgieva expressed confidence that Pakistan will not default is certainly very promising and welcome. In the past several years, the lack of continuity in economic policies, the global epidemic of Kovid, nationwide floods, the Russia-Ukraine conflict and the agreement made with the IMF on very strict terms in the previous period have exposed the country to the serious economic crisis. In view of this, there was a general impression that Pakistan would not survive bankruptcy. The IMF’s insistence on early implementation of its stringent conditions made the flood of inflation even stronger, while other financial institutions and friendly countries of the world Lait and Lal’s reluctance in financial cooperation before the agreement with the financial institution also hindered the recovery of the difficulties. In these circumstances, there was always a fear that Pakistan could be declared bankrupt at any moment, but yesterday on the occasion of the spring meeting of the IMF and the World Bank, the clear announcement of the top official of the IMF shows that our The continuous struggle of economic strategists has paid off and Pakistan has come out of the danger zone. Kristalina Georgieva told the press conference that her organization is seeking confirmation from international partners to meet Pakistan’s financing gap needs. He also clarified that although there is no fear of bankruptcy of Pakistan at present, it needs a sustainable policy framework to avoid such risks. An agreed national economic strategy has to be formulated on the basis, if the process of “building new buildings every time” continues with the change of governments, there will never be a lasting improvement in the situation.