Ishaq Dar Explodes to Questions About IMF and Economic Disaster

Finance Minister Ishaq Dar Monday reacted angrily to questions about the deadlock with the International Monetary Fund (IMF) and the coalition government’s failure to manage the economy. Despite the provocative stance of reporters pestering him for answers, the country’s top finance chief gave no particular answer to the query. “Give whatever judgment you want to give,” he stated. While talking to journalists, the finance minister said the country had fulfilled all international obligations and was making debt payments on time. As the journalist kept pressing the finance minister for more answers, Dar argued, “Has Pakistan defaulted?”, but didn’t have much to say in response to questions on the dwindling economic situation. Appearing uncomfortable with the reporter’s line of questioning, he retorted, “Take it easy, take it easy, bus kr na yaar bus kr”. He refused to answer questions regarding the upcoming budget for fiscal year 2023-24. Pakistan is experiencing a severe economic crisis, characterized by a budget deficit, crashing PKR, stagflation, and all-time high-interest rates. The increasing loss of forex reserves, along with the rupee devaluation, is driving up the prices of everyday items essential for living. Pakistan’s reliance on external cash, notably from the IMF, has become critical due to the country’s troubles. Disagreements over funding issues have prompted delays in the release of various bailouts, compromising Pakistan’s economic standing further into junk.