FuturePAF
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As I said, not for the sake of sympathy, but for their own ends. The IMF doesn’t want to be seen taking the blame for the policies of the Pakistani government, regardless of which ever party is in office. In short, the IMF is protecting its reputation, from the decades of accusations against them.Pakistan is bankrupt. It has defaulted. Sympathy won't change anything.
What I am saying is austerity without any prospect of growth will not persuade the legacy power brokers in Pakistan to pay more in taxes. The IMF should be persuaded to advocate greater market access for Pakistani exports if Pakistan agrees to more social spending and an end to subsidies to its elite.
When she used the word “restructuring” it was synonymous with the risk of default. If the country has default then all this is a moot point and whatever will need to be done to restructure will have to happen.