The IMF and Pakistan (A Road to Nowhere)

A great deal is written and said about the IMF’s interaction with Pakistan, none of it good, most of it couched in sweeping negative terms and some of it quite hostile. As a somewhat secretive and faceless institution with its own jargon (often referred to as “Fund speak”), mystifying lending facilities and complex “access” mechanisms, our disquiet is understandable. While much has changed in recent years with the Fund becoming more transparent and open— thanks especially to its new, hard-hitting Independent Evaluation Office (IEO)—misgivings and suspicions still run deep.