Pakistan took too many loans from IMF which actually was not needed

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The topic of my research essay is “Pakistan took too many loans from IMF which actually was not needed”. Pakistan did not need any foreign financial assistance and was able to handle the setbacks. In my essay, first of all I will tell you that what IMF is and what is his role in the world. Secondly, I will tell you that how and when Pakistan took his loans from IMF and what were the conditions set by IMF authorities. And then I will tell you the condition of Pakistan at the time of its first structural adjustment program. Then I will give some examples like Bolivia and will compare Bolivia with Pakistan. At the end, I will tell you some other ways to the solutions to Pakistan problems.

The International Monetary Fund (IMF) is an international organization of 186 countries. It works to help the development of global monetary co-operation. It secures the financial stability and facilitates international trade. It reduces the high unemployment rate and promotes the sustainable economic growth. Main goal of IMF is to reduce the poverty around the world. IMF works to help development of global growth and economic stability. It provides policy advice and financing to its members, in economic difficulties. It also works with the developing nations to help them in achieving macroeconomics stability and reducing poverty. [1]

The basic mission of IMF is to help and ensure stability in the international system. It does its job in three ways: keeping track of the global economy and the economies of member countries: lending to countries with balance of payments difficulties: and practical he...

... middle of paper ...

...rces. We should pay more taxes and we should try to remove corruption from every department of our beloved homeland. Government should make such policies that foreign investment is attracted towards us. By applying all these things we do not need to depend on IMF or World Bank or any other foreign country.

Works Cited

BIBLOGRAPHY

1. www.imf.org

2. http://economicpakistan.wordpress.com

3. http://www.uiowa.edu/ifdebook/ebook2/contents/part1-II.shtml#A

4. Tybout, J.R. ‘Industrial Performance: Some Stylized Facts’, in the Thomas, V., et al., op.cit., 1991, p. 157

5. Thomas, V., et al., op.cit.,1991

6. McCleary, op. cit., 1991, p. 421, emphasis added

7. Reed, David, Structural Adjustment and the Environment, Westview Press, Boulder, 1992, p.39

8. www.finance.gov.pak

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