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

[BHarwana]

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.

Okay here is a simple question. IMF gives loans and pledges assets against those loans. Then takes interests on those loans and their job is done. So why do they also have to then give a policy list. If IMF's job is only to give loans? I mean why the policy list? The truth is bit hard to digest and IMF is not all that innocent

 

[Fledgingwings]

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.

I know exactly what I am talking about dude.West isnt leaving us alone no matter what.neither dead noe alive......

 

[BHarwana]

I am not a child my friend whom you can pamper with these arguments. You and I both know what IMF is, it is a financial and political tool. I can prove my point with just few months back Sec. Pompeo's statements. Plus Indian statements of BJP in this regard. They way they pressurized IMF. We need IMF I know it but it is not what you say it is.

@That Guy IMF is a monetary control political institute. I also know why IMF approved our. The writing is on the wall.

 

[BHarwana]

Incorrect.

The IMF's role is to prevent the economy of a member state from collapsing by prescribing good financial discipline and working with the member state to help it implement its own plans for structural reforms needed. The loan is only to bridge the government over until the reforms deliver the beneficial results necessary to prevent another collapse.

Yes I have read this definition written in their description. I don't need your education for it.

 

[Fledgingwings]

While we have gone to IMF numerous times

No we have,nt,politicians and leaders have and since we as public dont get to change anything from inside the parliament because in the end its always these crooks get to make policies that fit their individual intrests its useless to think about it.they dont even ask the nation to take such step before doing it inspite of knowing who it is going to hurt the most because they dont care.that is Reason why I never casted a vote to any of these P**s.

I beg to differ!!! Turkey took 40-60b$ IMF loan after the financial meltdown in 2000. And, she was put under a strict fiscal discipline. It paid off big time...

You,re right man but the same stuff turns weird when enters pakistan for a reason or reasons only ALLAH knows best.

 

[BHarwana]

And yet you persist in peddling crap just to further you own conspiracy theories.

My conspiracy theories lol. What you said is what IMF calls it self but if the case is what you said then how come with 20 plus IMF packages and structural reforms IMF has blamed the govt? So the reforms failed or IMF policies failed what went wrong. The very statement of IMF blaming PPP and PMLN means that IMF is throwing the blame away from it's self. The only core agenda of IMF is to make sure that the unbacked currency system of USD stays successful. USD with out any real value stays the reserves currency.

Hating PPP and PMLN is one thing but throwing all the blame on them is an other. The evil is on both side but the devil on IMF side is much bigger.

 

[VCheng]

So the reforms failed or IMF policies failed what went wrong.

No Pakistani government was able to complete all of its commitments that they had agreed to implement. None. As a result, the required structural reforms were NEVER carried out as necessary.

Besides, this is PMIK's decision to go to IMF or not. IMF is not forcing him to sign. It is HIS choice, he can refuse.

 

[BHarwana]

No Pakistani government was able to complete all of its commitments that they had agreed to implement. None. As a result, the required structural reforms were NEVER carried out as necessary.

Besides, this is PMIK's decision to go to IMF or not. IMF is not forcing him to sign. It is HIS choice, he can refuse.

In 20 packages no govt fulfilled it's commitment so why IMF kept on funding those govt 20 times? You are contradicting your self.

IMF asked for increase in energy prices that makes production expensive and makes goods less competitive so how are IMF policies good for a country?

 

[VCheng]

In 20 packages no govt fulfilled it's commitment so why IMF kept on funding those govt 20 times? You are contradicting your self.

Because it is the DUTY of the IMF by charter to help out a member state whenever said state approaches it for help in case of a financial crisis.

IMF asked for increase in energy prices that makes production expensive and makes goods less competitive so how are IMF policies good for a country?

Incorrect.

IMF specified removal of energy subsidies since it upsets the government's balance of payments. The fault lies with the government for providing those subsidies in the first place as a political tool to curry favor with its vote banks.

 

[BHarwana]

Because it is the DUTY of the IMF by charter to help out a member state whenever said state approaches it for help in case of a financial crisis.

This statement sums up the duty IMF hold to member states. Lol
The way you people forget few months back statement is very dramatic.

https://twitter.com/x/status/1024137652549939200

 

[VCheng]

This statement sums up the duty IMF hold to member states. Lol
The way you people forget few months back statement is very dramatic.

https://twitter.com/x/status/1024137652549939200

That statement is correct. IMF needs to make sure that the rights of the states putting up the money for the bailout are protected by having a full understanding of the liabilities of the state getting the bailout, as its charter clearly requires. Nothing dramatic about that at all.

 

[BHarwana]

IMF specified removal of energy subsidies since it upsets the government's balance of payments. The fault lies with the government for providing those subsidies in the first place as a political tool to curry favor with its vote banks

Totally incorrect

There are no energy subsidies but it is called energy subsidy because the price of energy is high because IMF has already taxed it and IMF considering it's own tax as part of energy price.

 

[VCheng]

Totally incorrect

There are no energy subsidies but it is called energy subsidy because the price of energy is high because IMF has already taxed it and IMF considering it's own tax as part of energy price.

Bhai, when did IMF ever have the authority to tax anything at all? It is the government that sets the prices and the taxes.

sub·si·dy
/ˈsəbsədē/
noun

1. 1.
   a sum of money granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive.
   "a farm subsidy"

 

[BHarwana]

That statement is correct. IMF needs to make sure that the rights of the states putting up the money for the bailout are protected by having a full understanding of the liabilities of the state getting the bailout, as its charter clearly requires. Nothing dramatic about that at all.

But why would China need bailout in reality USA is in debt to China. I can't understand why you love going into circles.

 

[VCheng]

But why would China need bailout in reality USA is in debt to China. I can't understand why you love going into circles.

What USA and China owe to each other is not the topic here, and certainly no concern of the IMF. Pakistan's liabilities, however, are, since it has requested the bailout. Your whataboutery is what is going in circles here, not my logic. What bailout is there for China is all of this? If Pakistan owes money to China, then the IMF will definitely look at those liabilities as those repayments will directly affect Pakistan's financial outlook.