Direction: Read the passage given below and then answer the questions given below the passage. After more than a month of deliberations, Pakistan’s newly-elected government has decided to seek a bailout package from the International Monetary Fund (IMF). Pakistan’s foreign exchange rese

Direction: Read the passage given below and then answer the questions given below the passage.

After more than a month of deliberations, Pakistan’s newly-elected government has decided to seek a bailout package from the International Monetary Fund (IMF). Pakistan’s foreign exchange reserves of around $15 billion are sufficient to cover only two-and-a-half months of imports. Pakistan, like India, is also beset by its own twin deficit problem—government spending outpacing revenues and imports outpacing exports. However, its economy has been in much worse shape compared to others in the region and, therefore, it has decided to approach the IMF for a bailout.

This is not the first time in recent years that Pakistan has turned to the fund for help. The latest bailout, if concluded, will be the thirteenth IMF package for Pakistan since 1988. India, on the other hand, has only availed of two IMF packages in the same period, both during the 1991 balance of payments crisis. Bangladesh and Sri Lanka have also taken less assistance from IMF than Pakistan.

Pakistan’s perennial dependence on foreign funds has meant that it is dependent on external donors to stabilize its economy. A 2012 research paper by former IMF advisors Ehtisham Ahmad and Azizali Mohammed, says that years of financial assistance by the US and US-aligned multilateral institutions have left no incentive for Pakistan to introduce structural reforms. Instead, the government often seems happy to leverage its geographical importance to secure more money and bailouts. This, the authors say, has created a situation of “Dutch disease”, wherein inflow of foreign currency and overvaluation of the Pakistani rupee has damaged the domestic industry.

China is also stepping into the role of influential donor for the country. A recent study by the US-based think tank, Centre for Global Development, warned that China’s Belt and Road Initiative (BRI) could raise the risk of sovereign debt default by relatively small and poor countries. China has already upstaged the US as the main source of external funds for Pakistan, and Pakistan’s dependence on China could rise further in the years to come.

China has also been providing cover to Pakistan in international fora. This has raised fears of a China-Pakistan alliance directed against India, with some commentators arguing that anti-India sentiment is the ultimate glue that holds the China-Pakistan alliance together. China is also investing in other countries around India, which has worried policymakers in India. The example of Sri Lanka’s China’s Hambantota port, which has been handed over to China as debt obligations mounted, only add to such concerns.

Choose the country from the options that has NEVER opted for a bailout package from the International Monetary Fund.

1). India
2). Pakistan
3). Sri Lanka
4).

Bangladesh

---

Join Telegram Group

Answer This Question
Name:
Email:
Answer :
Sum of (2+3)
Submit:

Other Questions

1. In the following question, the sentence given with blank to be filled in with an appropriate word. Select the correct alternative out of the four and indicate it by selecting the appropriate option. Sahil was ________ over the parapet in his death agony.

2. It is hoped that a ......... will be reached in the meeting.

3. The question below consists of a set of labelled parts. Out of the options given, select the most logical order of the parts to form a coherent sentence. A. smoke billowed up between the plants B. passengers were told to be ready to quit the ship C. the rising gale fanned the smoldering fire everyone now knew there was a fire on board D. flames broke out here and there E. most people bore the shock bravely

4. In the following questions, one part of the sentence may have an error. Find out which part of the sentence has an error and click the button corresponding to it. If the sentence is free from error, click the "No error" option.Essay writing is an art (A) / that requires many planning (B) / on the part of the writer. (C) / No Error (D)

5. In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If a sentence is free from error, select 'No Error'. I am sure this necklace (A)/ will look more better (B)/ on my daughter. (C)​ No error (D)

6. In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If a sentence is free from error, select 'No Error'.It was obviously for everyone (A)/that grandfather was (B)/hiding something from all of us.(C)/ No error(D)

7. In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If a sentence is free from error, select 'No Error'.The sailors divided his (1)/ money around themselves and (2)/ the ship sailed on. (3)/No Error (4)

8. In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If a sentence is free from error, select No Error. If life existed on Mars, it is most likely to be in (1)/ the form of bacteria buried deep in (2)/ the planet’s permafrost or lichens. (3)/ No error (4)

9. In the following passage, there are blanks, each of which has been numbered. These numbers are printed below the passage and against each, five words are suggested, one of which ts the blanks appropriately. Find out the appropriate word in each case. With the U.S. military tied down on two fronts an

10. Read the passage given below and then answer the questions given below the passage. Some words may be highlighted for your attention. Pay careful attention. The pitiful situation of the homeless is a problem. To estimate the number of homeless people is difficult as it would depend on who we define