Islamabad, Pakistan – When Pakistan reached yet another staff-level agreement (SLA) with the International Monetary Fund (IMF) in July for a $7bn, three-year loan programme, it was hailed as a lifeline for both the government, which had assumed office only months before, and the country itself, which was reeling under a severe economic crisis.
However, two months later, Pakistan is still waiting for the United States-based global lender’s approval of the programme, Pakistan’s 25th since the first such bailout deal was signed in 1958.
