IMF Bailouts: Roads to Stability or Recipes for Disaster/Essay on Pakistan Economy / CSS 2023 Essay and Current Affairs
Outline Introduction The emergence of the IMF IMF bailouts are the recipes for disasters, evidenced by the history Contemporary evidence of disastrous recipes of the IMF for stability To what extent is it true that the IMF bailouts are recipes for disaster? Yes, it is true because: It favors developed countries Its stabilization policy leads to destabilization It increases the balance of payment crisis IMF provides a "one shoe fits all" policy It devalues the local currency It compels countries for more borrowing Causes of disastrous recipes of the IMF for stability Economic Causes Political Causes Ideological Causes Cultural Causes Social Causes Impacts of IMF bailouts Decreases Public Private Investment Increases Unemployment Open new ways for corruption Creates monopoly in private business owners Open ways for money laundering Already taken steps to counter the IMF bailout Measures need to be taken to reduce the risks of the IMF bailouts Self-reliant economic...