Displaying items by tag: global politics

Pakistan plans to seek its largest ever bailout from the IMF as Imran Khan takes office. The loan is to resolve the country’s escalating foreign reserves crisis. However a loan would see IMF impose restrictions on public spending, making it difficult for Khan to fulfil election promises. One government adviser said, ‘We can’t do without the IMF’s support of a $10bn -12bn loan.’ During the election campaign, Mr Khan pledged to spend public money on access to healthcare for all, upgrading schools and expanding the social safety net. Analysts warned these promises would be hard to fulfil, given the reality of Pakistan’s economic situation. 35% live in poverty and Islamabad has kept going with loans from Chinese commercial banks and allowing the rupee to depreciate 20%. Meanwhile, substance abuse is rampant and terrorists have a safe haven there. This is one of the most dangerous countries in the world to be a Christian.