Author(s)

Sajjad Ali^1*, Shakir Ullah², Feng Liang¹, Mukht Yar Ali¹ 

Affiliation(s)

¹School of Marxism, Xi'an Jiaotong University, Xi'an 710048, Shaanxi, China.

²Visiting Lecturer and Research Supervisor at GPGC Timergara, University of Malakand, Khyber Pakhtunkhwa, Pakistan.

Corresponding Author

Sajjad Ali

ABSTRACT

This study is concerned with examining Pakistan’s deals with the International Monetary Fund (IMF). As an international economic institution, the IMF has a significant impact on the borrower’s market by implementing its economic agenda. The economic landscape of Pakistan in recent years has been significantly impacted by the implementation of neoliberal policies, which the IMF has imposed. The country has a long history of relying on IMF loans. Pakistan has entered into numerous IMF programs, often as a last resort to address the balance of payment crises. However, these programs have been criticized for imposing unrealistic conditions on the country, which has further exacerbated the economic instability and social inequality. Methodologically, this study is based on a mixed method of analysis by analyzing the secondary data. Academically, it is significant while drawing attention to the conditions that have pushed the country into the deals. 

KEYWORDS

Neo-liberalism; Agenda; Conditionalities; Inflation; Economic regime

CITE THIS PAPER

Sajjad Ali, Shakir Ullah, Feng Liang, Mukht Yar Ali. Critical analysis of the impact of the IMF deal on Pakistan's economy. Journal of Trends in Financial and Economics. 2025, 2(3): 63-72. DOI: https://doi.org/10.61784/jtfe3052.

REFERENCES

[1] ILO Report. World Labour Report. International Labour Organizaton, 2017.

[2] Bird A R. the Effect of IMF Programes on the Economic Growth in Low Income Countries: An Empirical Analysis. The Journal of Development Studies, 2017.

[3] Chang HJ. Institutional and Economic Development: Theory, policy and history. Journal of institutional Economic, 2011.

[4] Chomsky N. Profit over people: Neo liberalism and global order. Seven stories press, 1998.

[5] Conway. IMF Lending Program: Participation and Impacts. Journal of Development Economics, 1994.

[6] David H. On Neo Liberalism. Oford University Press, 2006.

[7] GOP. Pakistan Economic Survey. Government of Pakistan, 2020.

[8] Ha Joon. the hypocracy of neolibral propeganda in capitalism. In Ha-joon, The Myth of free trade and the secret history of capitalism. Bloombsbury Press, 2007.

[9] Hassan B.  Neo liberalism and Pakistan. The International News, 2021.

[10] Hussain I. The economy of the elitist state. Oxford University Press, 2000.

[11] Hussain I. Economic Challenges of Pakistan. In H. Ishrat, Governing The Ungovernable. Lahore: Oxford Press, 2021.

[12] IEO. Evolovating the IMF Exchange Rate Policy Advice. Independent Evoluation Office, 2016.

[13] ILO. World Labour Report. International Labour Organization, 2002.

[14] IMF. Staff Level Arrangemnent with Pakistan. International Monetory Fund, 2023.

[15] IMF Report. Pakistan: Staff REport for 2019 Article 4 Consultation. International Monetory Fund, 2019.

[16] Jamal. A Decade Long Analysis. International Journal of Contemporary Issues In Social Sciences, 2014.

[17] Khan A. Impact of IMF loans on Fiscal Policy Structure : Empirical Evidance from Pakistsn. Pakistan Institute of Development Economics, 2018.

[18] Khan S. Do World Bank and IMF policies work? Springer, 1999.

[19] Khan S. IMF and Pakistan: A Reletionship Of Dependence. In A. Hillali, 2017.

[20] Lawson. Negative Impacts of IMF on Developing Countries. Oxfam, 2018.

[21] LUMS. Inflation Targeting in Pakistan: A Critical Analysis. Lahore: Lahore University of MAnagement Science, 2005.

[22] LUMS. Encome In equality in Pakistan. Lahore: Lahore University of Management Science, 2015.

[23] Mushtaq. IMF Exextive Board Concludes Article 4 Consultation With Pakistan. Washngton DC USA: International Monetory Fund, 2017.

[24] Nadia Dohadwala, Muhammad Bin Khalid Karthik Nachiappan. Pakistan and the IMF: Debts, Deficits and Dependency. Indian Strategic Studies, 2020.

[25] NKrumah K. Neo_colonialism: The last stage of capitalism. International Publisher, 1965.

[26] Patnaik and Prabhat Patnaik. Capital and Imperialism: Theory, History and Present. Monthely Review Press, 2021.

[27] Peet R. Unholy Trinity: the IMF, World Bank and WTO. Bloomsbury Publishing, 2009.

[28] PEN. Education Sector reforms In Pakistan. Pakistan Education Network, 2006.

[29] PIDE. Informal Sector in Pakistan. Pakistan Institute of Economic Development, 2017.

[30] PIED. Foreign Borrowing and Debt Accumulation in Pakistan. Pakistan Institute of Economic Development, 2007.

[31] PILDAT. Health Sector Reforms In Pakistan. PILDAT, 2006.

[32] PILDAT Report. Privatization in Pakistan: Critical Review. Pakistan Institute of Legislative Development and Transparancy, 2018.

[33] Prebisch R. The economic development of Latin America and its principal problems. United Nations Department of Economic Affairs, 1950.

[34] R Shrokh, S Aftab. Structural Adjustment, Labour and the Poor In pakistan. SDPI, 1995.

[35] SA Z. issues i n pakistan economy. Oxford, 2015.

[36] SZ A. Issues in Pakistan Economy. Islambad: Oxford University Press, 2015.

[37] Sadiqi I A. Impact of Trade Openness on Output Growth for Pakistan: An Empirical Investigaton. Institute if Business Administration Karachi, 2005.

[38] Santaella a K. Economic Determenints of IMF Financial Agreement. Journal of Development Studies, 1997.

[39] Sarfaraz Z. Impct of Pak- IMF Bailout Arrangement on Economic Growth. Journal of Public Policy practioners, 2022.

[40] Shahbaz R K. Will The IMF $7 Billion Bailout Sablize Pakistan Economy. United State Institute of Peace, 2024.

[41] Singer H. The Distribution of Gains between Investing and Borrowing Countries. London : Singer, 1975.

[42] Stiglitz J. Globalization and Its Discotents. W.W. Norton and Compony, 2002.

[43] UNESCO. Education For All. Global Monitoring Report, 2002.

[44] WB. Pakistan_Health Sector Report. Washnigton DC: World Bank Group, 2002.

[45] WB. Pakistan: Education Sector review. World Bank, 2010.

[46] WB. Pakistan Overview. World Bank, 2020.

[47] Wallerstein I. Modern World System. New York Academic, 1974.

[48] WHO. World Health Report. World Health Organization, 2010.