The Nation never fails to impress us with the some of the conspiracy theories that they publish. Today is no different as the editorial writers venture into the world of economics. Unfortunately, rather than ask an economist for advice and explanation, the editorial writers chose to create a conspiracy theory to explain what they do not understand.
The editorial explains this bizarre conspiracy when The Nation talks about “the real trap.”
However, the real trap the government needs to escape, is that of the IMF, which is only offering aid because Pakistan is helping the USA, which is allied to Europe, which names the IMF Managing Director, in its War on Terror. The IMF conditionalities, combined with government extravagance, are causing the unchecked growth in debt by a government which never tires of its concern for the poor. While Pakistan might need assistance to tide over the difficulties it may be facing, such assistance should not be at the cost either of the national economy, or of national honour and dignity. As the increase in the debt burden under the PPP-led government shows, turning to the IMF has meant not just the sacrifice of national honour, but a worsening of the national economic situation.
Let me see if I can sort out this tangled mess of conspiracies.
First, the IMF is only offering aid to Pakistan because the USA wants it to, and the USA only wants it to because the USA is allied to Europe and Europe names the IMF Managing Director. Apparently there are some conditionalities involved with the IMF aid (as there are with all IMF aid), though The Nation doesn’t let us know what exactly they are. The Nation also tells us that there is some government extravagance (again, undefined). These mysterious conditionalities mix with the extravagence and cause massive increases in debt because according to The Nation PPP cares too much for the poor! All of this together, of course, hurts the national honour and dignity.
If you found that hard to follow, take no worries, dear reader. I have created a chart that explains it perfectly clearly.
Did that help explain? Don’t worry, I don’t understand either.
The national economy is not only a topic of debate but an issue that affects the lives of everyone. Because it is an issue of such seriousness, it deserves to have serious discussion. Making up some fantastic conspiracy theory by throwing in every bogeyman that you can think of (IMF, USA, Europe, War on Terror, “conditionalities,” poor people) and then saying that these are all mixing together to harm the national honor is a waste of time that could be better spent discussion real solutions to such important issues.
