Pakistan is not the only country to approach IMF as time and again various countries have knocked on the IMF’s doors. The fallout from the “structural adjustments” are infamous, with the IMF often blamed for suicides in the various countries where it has imposed its will and restricted the government’s spending programmes in order to pay down debt. The scene is set for us to witness a level of government spending of an utterly enormous magnitude in the coming decade – greater than anything we’ve seen before. Although the crisis originated in Thailand following a stark devaluation of Thai baht, signs of overheating in the economy, stock market bubbles, external deficits started appearing earlier. The balance of payments includes all external visible and non-visible transactions of a country. The country has already spent 22 of the past 30 years in a dozen different IMF bailout programs. The IMF has responded to the COVID-19 crisis by quickly deploying financial assistance, developing policy advice and creating special tools to assist member countries. Views expressed are personal. The IMF's quota system was created to raise funds for loans. As of 2016, the fund had SDR 477 billion (Special Drawing Rights: the currency of IMF). Third is the degree of political stability and quality of governance which are directly correlated to effectiveness of policy response. Rule of law continues to be the central pillar for implementation of any public policy. IMF “assistance” comes with ropes attached – if your government wants one, you should be afraid. Bumper listing for Chemcon Speciality Chemicals, IPOs chased by retail investors have lagged on returns, On Gandhi Jayanti, exploring the many sides of the Mahatma, Zadie Smith’s ‘Intimations’: Novels, banana bread and moments of certainty, Quiz on major sporting events held in India, Neuro Marketing | When machines get into your subconscious, Datamine | Digital zooms, radio and OOH dip, Say cheese, says the organised dairy sector. In the last few weeks, more than 100 countries—that is, more than half the members of the United Nations—have applied for help from the IMF. In a referendum on Sunday, the Greeks declined to accept European creditors’ bailout offer, with 61.3% voting “No” and 38.7% “Yes”. Registered in England and Wales No 9539630. “The economic crisis of 2020 may have performed so badly as anticipated earlier by many experts but road bumps still lie ahead said,” Kristalina Georgieva, the International Monetary Fund’s managing director said on Tuesday. It’s notorious for extracting brutal repayment terms from governments which do not do this – those who indulge in too much debt and drive their finances into the river. As the printing press runs hotter, the political atmosphere does too. With these products your capital is at risk. For eg: BRICS countries. This leads to the problem where countries that grow economically have tended to become under-represented as their voting power lags behind. First, Asian economies started experiencing a growth boom in 1970s driven by domestic savings and transition from agriculture to industry. Here’s how you can borrow against your investments. A mass trapping experiment is on in Maharashtra to save cotton crop from pink bollworm, Despite the isolating pandemic, Manipur’s women strive to weave small success stories, Covid impact: Mental health issues and children dropping out of school must be tackled urgently, These earbuds lose out on some features and frills but offer great audio for less, Here’s how you can get it transferred to your name without a sale deed, Stock lists at 116% premium to the upper end of the price band, LME cash market returns to contango; more correction likely in coming days, Some offers which saw lukewarm retail response have done well post listing.