Pakistan’s prime minister Shehbaz Sharif said Friday the government would have to agree to IMF bailout conditions that are “beyond imagination”, as it battles a spiralling economic crisis. An International Monetary Fund (IMF) delegation landed in Pakistan on Tuesday for last-ditch talks to revive vital financial aid that has stalled for months. Pakistan’s economy is in dire straits, stricken by a balance of payments crisis as it attempts to service high levels of external debt, amid political chaos and deteriorating security. The government has held out against tax rises and subsidy slashing demanded by the IMF, fearful of backlash ahead of elections due in October. In this episode of the Editorial, our Managing Editor Mr Sujit Nair shares his take on the matter.
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