The IMF appears to have imposed conditions on Pakistan which really cannot help its economy improve. For one thing, the IMF wants Pakistan to raise fuel and gas prices to very high levels, as well as devaluing the rupee against the dollar. Even though the rupee has lost more than forty percent of its value in the past nine months, exports have not increased. Moreover, a weak rupee means the government will have to pay more for dollars to repay the IMF loan. Imports will become prohibitively expensive. Most middle class families will sink into poverty, and people may come out on the streets demanding the ouster of the selected prime minister (Imran Khan). That moron deserves to be kicked out for inflicting so much damage to the country.
Today the dollar reached the unprecedented level of Rs. 151, the stock market crashed again and there is absolute despair among traders and businessmen. So what does the IMF gain from all this?
I have a strong suspicion that the U.S. and India want a very weak Pakistan, which will have no clout in the world. Maulana Fazlur Rahman used to call Imran Khan an agent of the Jews. He may well have been right. The future is very bleak, I hope we don't see Pakistan being dismembered again. Unfortunately, those who call the shots in Pakistan (the de facto rulers) don't see the writing on the wall, because most of them have forgotten what happened in 1971.
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