20240717 Cover Pakistan IMF img

Demonstrators in Bara, Pakistan, protest against new taxes on July 7: The government's push to increase revenues has not been popular. © AFP/Jiji

Why Pakistan cannot resist going back to the IMF for another fix

Latest $7bn injection of support will not itself end country's cycle of dependence

ISLAMABAD -- Earlier this month, hundreds of people marched through Islamabad's central commercial district on a Friday afternoon carrying signs and chanting slogans such as "Tax the rich" and "Reduce tax on salaried people."

The protest passed peacefully but was still an ominous signal for the government of Pakistani Prime Minister Shehbaz Sharif. His coalition administration took power in March after almost a month of bargaining in the wake of a general election marred by alleged military-directed manipulation. It excludes Pakistan Tehreek-e-Insaf (PTI) even though candidates from the party, founded by jailed former Prime Minister Imran Khan, have the most seats in Parliament.

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