Pakistan receives 23 IMF bailouts in 75 years

Pakistan’s enduring relationship with the International Monetary Fund (IMF) since 1958 has woven a tapestry of financial challenges, strategic manoeuvres, and global assistance, shaping the nation’s economic trajectory over the decades. Recent data reveals a nuanced picture of Pakistan’s ongoing IMF engagement, holding substantial implications for economic stability. Ranking fifth in outstanding debt with the IMF, standing at $7.4 billion, Pakistan follows Argentina, Egypt, Ukraine, and Ecuador. In 1958, Pakistan secured its inaugural IMF bailout of $25,000 (equivalent to about $274,000 in 2024). The largest-ever loan of $7.6bn in 2008, under the Gillani government, saw a subsequent withdrawal of $4,936,035. As the IMF Executive Board convenes on Jan 11 to review Pakistan’s request for additional funds, the meeting will scrutinise the final approval for the disbursement of a $700m tranche within the ongoing $3bn Stand-By Arrangement (SBA).