Pakistan says it agrees to IMF terms on release of $1.1bn payout
Al JazeeraDec 23, 2022
The Facts
After ten days of face-to-face negotiations, Pakistan and the International Monetary Fund (IMF) failed to reach a deal over the release of $1.1B in financial aid, with talks set to resume virtually on Monday.
The IMF negotiations are aimed at freeing the $1.1B installment of a $6.5B financial bailout organized in 2019 that has stalled since December due to what Pakistani finance minister Ishaq Dar called "routine procedures."
The Spin
Narrative A
Though negotiations have taken some time, Pakistan is facing a serious financial crisis and is in dire need of IMF funding. As talks have been delayed, Pakistan has also attempted to obtain outside funding from Gulf states, but they, too, have paused their aid until the IMF deal closes. Pakistan has already implemented many of the IMF's requests, and it's time for them to uphold their end of the bargain.
Narrative B
Pakistan has brought these delayed negotiations upon itself. The nation that has long relied on a debt economy while recklessly spending on populist and militaristic policies is now surprised that the IMF is skeptical about giving it more money. Islamabad is in a bind because it refuses to break away from its historically bad habits.
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