News Snapshot:
On 29 August 2022, the International Monetary Fund (IMF) executive board gave its nod for restoring the Enhanced Fund Facility for Pakistan. The mood in Islamabad was celebratory on two counts. The first was that the IMF programme had warded off the immediate threat of Pakistan defaulting on its debt, and becoming another Sri Lanka, or worse; the second was the failure of a last-minute attempt by Imran Khan and his cronies to sabotage the IMF programme by refusing to adhere to a crucial undertaking by provincial governments to generate fiscal surpluses. Even so, there was something quite incongruous about...
