During the last three years Pakistan has added a net amount of 13 billion dollars to its external debt, pushing the total debt to around 22.4 trillion rupees.

It is no secret that Pakistan is stuck in a debt-cycle. A good amount of fresh loans is directed towards the repayment of previous loans. A practice that indeed seems redundant, but it is the only way Pakistan can keep the IMF ball rolling. Critics have long argued that global organisations like the IMF and WB have often implemented failed economic policies, which has resulted in the regression of developing economies, rather than its progression. By providing a loan and gaining influence over a nation’s economy, they are able to dictate economic conditions and policies.

While notions of corruption, lack of transparency or accountability, and mistrust can be blamed for poor national performance; some tangible structural changes are required to enhance economic potential.