In-Depth Has IMF money ever saved us in the past? Herald Updated Nov 19, 2018 02:28pm WHATSAPP 12 Comments Email Email Your Name*Recipient Email* Print This article was published in the Herald's September 2018 issue. To read more subscribe to the Herald in print. WHATSAPP 12 Comments Email Email Your Name*Recipient Email* Print Related Stories How the government should go about fixing the economy Published Oct 15, 2018 08:22am Why Pakistan is back in trouble with balance of payment Updated Aug 09, 2018 06:00pm Cure or curse: Our perpetual dependence on the IMF Updated Jan 17, 2017 08:11pm More From This Section Fawad Chaudhry: The megaphone Nawaz Sharif: His crime and punishment Who is responsible for rigging the 1990 polls? Zainab Ansari: Revealing our collective callousness Mrec Large Comments (12) Closed Pathanoo Oct 25, 2018 01:36am Pakistan is on this never ending financial roller coaster and can not get off till a leader with spine, brains and integrity comes along and imposes policies to restructure the economy of the country. Right now, all the Paksitani Government is doing is giving equivalent of an Aspirin to a fourth stage cancer patient and hoping for a miracle. AHMED Oct 25, 2018 10:42am IMF is not good for poor countries like Pakistan. unless we get out of IMF shackles, we cannot come out of poverty. Sad Hammad Oct 25, 2018 11:25am just renew your terms but don't take any further loan anonymous Oct 25, 2018 11:34am 22 opportunities to learn a lesson or two. Have you learnt them Sir? zuk Oct 25, 2018 03:20pm The answer to the title question is emphatic "yes". The IMF loans and associated conditionalities always saved us from becoming a defaulter. So far no government took measures to put up policies to avoid going back to IMF. Let's see the performance of the current one. Pakistani Oct 25, 2018 03:54pm Debt with sood is never good. There is really not much to think here. BAXAR Oct 25, 2018 04:44pm If you know where the money goes and what it does, you can take as much loans as you can. Just Saying Oct 25, 2018 05:36pm As with individuals, also with countries. Others can help you, they cannot save you. Your distress is due to bad policies or bad habits with a dose of bad fortune. Why is it that Bangladesh, which started off as a basket case, does not require any bailouts today? Bangladesh and Pakistan has comparable size economies with foreign borders also of comparable length. Pakistan is spending 3-4 times on defense compared to Bangladesh. These are things that do not get corrected by IMF Bailouts, Saudi Aid or Chinese Investment, these are things only Pakistan can fix by getting its priorities right. ijaz flo Oct 25, 2018 07:47pm Excessive debt even in personal live is a bad idea. IMF is not the solution. We need to increase our tax base. My proposal for the economy is the following: A. Eliminate the RS5000 and RS1000 currency bills. All the black money will come to the banks. B. People and businesses will be forced to do transactions using debit or credit cards or use bank checks. C. All transactions will be reported to the banks and thus it will be subject to taxation. D. Educate the public regarding the benefits of paying taxes to the government. E. Country cannot exist unless everyone pays their fair share of taxes. F. Use technology to educate and collect taxes. anonymous Oct 25, 2018 11:42pm no doubt IMF save us in crucial times but it's our incompetency that we never learn from our mistakes to reform our economic structure. Now the new government is in place let's hope for the best let Democracy prevail Dawn Oct 26, 2018 08:17am No but it surely helped past officials. S. Asad Hyder, Ph.D Oct 26, 2018 07:45pm Pakistan's main problem is the high number of population. As long as something concrete is done about it nothing good will come out of it even if there are ten IMFs.