Why is IMF blaming previous Govts for current economic situation in Pakistan.

[maxpayne]

So Musharaf borrowed mere $1.5b to keep dollar at 60rs and subsidize a whole lot more!, For 8 long years! Wow!

Yet PPP and PMLN borrowed $37b in last 10 years for what? $ went from 60rs to 125rs in exactly 10 years, Budget deficit sky rocketed.

These figures clearly tell the tale that Musharaf and his team were much better at managing economy than the scum who followed. He managed it all by borrowing just $1.5b whereas the scum couldn't manage with $37b!

ALSO compare the loadshedding during Musharaf's era and PPP!

Steel mill was profitable.

And so on the list goes.

data is incorrect abt NS lending 3 times from IMF during last tenure. They took only one program of i think 6.4B. Someone is spreading it.intentionally

 

[HAIDER]

https://twitter.com/x/status/1127853919110090753

https://twitter.com/x/status/1127853993257050112

dar made fabricated numbers to get loan and same path ppp follow. now imf has real books and record to analyze the situation and they can judge the decade of loans performance and debt servicing.

 

[Abdussamad]

Look - I don't recall enough about what was going on then to take a position either way, but as posters (it's not just you) we have to stop resorting to 'look it up yourself'. If someone makes a claim, that individual is responsible for providing sources supporting said claim, otherwise the discussions regress into trolling and baiting.

Try reading the thread next time. I did provide a source in post #28.

 

[Proudpakistaniguy]

Head of IMF is also good in taking Uturns..watch 15.30 onwards what bhuddi mahi of IMF used to say about previous government when was doing press conference with Isaq dar

Also

https://nation.com.pk/19-Apr-2016/imf-chief-praises-pakistan-s-outstanding-performance?version=amp
WASHINGTON - International Monetary Fund (IMF) Managing Director Christine Legarde has lauded Pakistan’s “outstanding performance” in improving its economic and financial sectors.


In a meeting with the Pakistani delegation to the spring IMF-World Bank meetings, which is headed by Finance Secretary Waqar Masood Khan, the IMF chief congratulated Pakistan on continuing with reform process which required politically tough decisions, according to a press release of the Pakistan embassy here.

She observed that it was primarily due to the government’s commitment to reforms agenda that today Pakistan was ready to increase its growth at par with other countries in the region.

The IMF chief particularly commended the “strong leadership of Finance Minister Senator Ishaq Dar in achieving this outstanding performance”. She expressed hope that Pakistan will keep pursuing sound economic policies to ensure continued stability and growth.

On his part, the finance secretary apprised her about the latest macro economic indicators, saying Pakistan was close to completing IMF programme and only 2 Reviews are to be completed.


Waqar said the Government has met all the performance criteria for next review and that Pakistan was going to complete an IMF programme spread over 3 years. He said that over the last 3 years headwinds country faced at the beginning of the program have largely receded. “Today Pakistan Economy is poised to achieve a high trajectory of growth as reflected by major indicators like low inflation, high level of reserves, low policy rate, steadily increasing remittances, revival of large scale manufacturing and increased private sector lending.” the finance secretary said.

 

[Verve]

Head of IMF is also good in taking Uturns..watch 15.30 onwards what bhuddi mahi of IMF used to say about previous government when was doing press conference with Isaq dar

Also

https://nation.com.pk/19-Apr-2016/imf-chief-praises-pakistan-s-outstanding-performance?version=amp
WASHINGTON - International Monetary Fund (IMF) Managing Director Christine Legarde has lauded Pakistan’s “outstanding performance” in improving its economic and financial sectors.


In a meeting with the Pakistani delegation to the spring IMF-World Bank meetings, which is headed by Finance Secretary Waqar Masood Khan, the IMF chief congratulated Pakistan on continuing with reform process which required politically tough decisions, according to a press release of the Pakistan embassy here.

She observed that it was primarily due to the government’s commitment to reforms agenda that today Pakistan was ready to increase its growth at par with other countries in the region.

The IMF chief particularly commended the “strong leadership of Finance Minister Senator Ishaq Dar in achieving this outstanding performance”. She expressed hope that Pakistan will keep pursuing sound economic policies to ensure continued stability and growth.

On his part, the finance secretary apprised her about the latest macro economic indicators, saying Pakistan was close to completing IMF programme and only 2 Reviews are to be completed.


Waqar said the Government has met all the performance criteria for next review and that Pakistan was going to complete an IMF programme spread over 3 years. He said that over the last 3 years headwinds country faced at the beginning of the program have largely receded. “Today Pakistan Economy is poised to achieve a high trajectory of growth as reflected by major indicators like low inflation, high level of reserves, low policy rate, steadily increasing remittances, revival of large scale manufacturing and increased private sector lending.” the finance secretary said.

Outstanding performance of the economic hitman Ishaq Dar, indeed.

 

[Proudpakistaniguy]

Outstanding performance of the economic hitman Ishaq Dar, indeed.

Isaq dar was failure ..posted this to show the crediblity of wordings of IMF chief..they always appease ruling governments and blame previous ones so dont take their political statements seriously

 

[That Guy]

IMF is a soodi bait.whoever gets it,regrets for generations.

IMF's economic policies transformed South Korea from a poverty ridden nation, to a rich and powerful nation.

IMF economic policies turned Turkey's economy from a mediocre growth, to one of the best performing in the world.

IMF's economic policies set India's economy from okay growth to one of the best in the world.

You have no idea what you're talking about.

It's not the IMF that's the problem, it's your leaders that refuse to implement the reforms it demands.

 

[BHarwana]

IMF's economic policies transformed South Korea from a poverty ridden nation, to a rich and powerful nation.

IMF economic policies turned Turkey's economy from a mediocre growth, to one of the best performing in the world.

IMF's economic policies set India's economy from okay growth to one of the best in the world.

You have no idea what you're talking about.

It's not the IMF that's the problem, it's your leaders that refuse to implement the reforms it demands.

You are correct about South Korea turkey and India but there is also another list of countries which IMF doomed. Yes it is the fault of leaders but IMF has destroyed more nations then it has helped.

 

[Path-Finder]

 

[dBSPL]

You are correct about South Korea turkey and India but there is also another list of countries which IMF doomed. Yes it is the fault of leaders but IMF has destroyed more nations then it has helped.

IMF policies led to unbelievable interest rates and inflation during the 90s. There is a positive correlation between economic instability and political instability. Economic failures triggered political destabilization. In this process, IMF austerity policies hit the middle income level very heavily. So, the most important reason of AKP's 'alone-power' is not the victimization of the conservative sector by hardline secularists(there is such a misunderstanding), but the failed or unsustainable economic policies of the country during period of 1991-2001. ( 1994 - 1998/9 - 2001 crises are the blast points of this process and evaporation could be above the current GNP.)

IMF's economic policies transformed South Korea from a poverty ridden nation, to a rich and powerful nation.

IMF economic policies turned Turkey's economy from a mediocre growth, to one of the best performing in the world.

IMF's economic policies set India's economy from okay growth to one of the best in the world.

You have no idea what you're talking about.

It's not the IMF that's the problem, it's your leaders that refuse to implement the reforms it demands.

There is a linear relationship between the military coups in Turkey and the IMF interventions. Korea is a complete success story but you need to revise the Turkey part of the story again. A total of 19 stand-by agreements have been signed between the first agreement process of 1960 (just after military coup) and 2000s. Of these, 17 failed.While no significant improvement was observed in the public debt stock in any process of this story, the income level of households also fell continuously. In the structural sense only the last two agreements are classified as successful. But there is no stand-by agreement between the IMF and Turkey, last 15 years.

 

[BHarwana]

Also how can we forget what IMF did to Yugoslavia in 1990s

http://www.albionmonitor.com/9904a/yugodismantle.html

 

[BHarwana]

$6 billion is not a big amount but let's make it out last loan from IMF.

 

[jericho]

Many countries have done so but IK and your establishment are not men enough to do that.

Would like to have more info on this, if you could provide examples

 

[war&peace]

Would like to have more info on this, if you could provide examples

One latest is Argentina.

 

[That Guy]

You are correct about South Korea turkey and India but there is also another list of countries which IMF doomed. Yes it is the fault of leaders but IMF has destroyed more nations then it has helped.

The IMF has done nothing more than offer loans, and present reasonable economic policies.

The reason why those nations fail is because they take the loan, and refuse to implement those policies, which are designed to fix the economy and repay the loans properly.