Pak's 78-year malaise
Today, Pakistan's most popular leader sits in jail. Its economy remains in the doldrums. Its forex reserves hover around the $14.5bn mark, covering just 2.5 months of imports. Since its creation, Pakistan has approached IMF a record 25 times for bailout loans. And as of May this year, it faced a total debt burden of a whopping $267bn. Add to this the march of radicalisation, growing insurgencies in multiple Pakistani provinces, and a so-called hybrid regime that undermines democracy and makes the Pak army the real power centre in that country.
There are only two things that Pakistan is good at: playing all sides and negotiating with a gun to its head. Both tactics have been on display in recent weeks with Asim Munir now currying favour with Trump, and then, in an open nuclear threat, threatening to take 'half the world down' if Pakistan is pushed to a desperate situation. Pakistan's sudden pivot to US is aimed at hedging against China, whose influence over Pakistan has grown tremendously. While the nuclear threat raises serious questions about the integrity of Islamabad's nukes. Pakistan thinks it can fool everyone all of the time. It doesn't.
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This piece appeared as an editorial opinion in the print edition of The Times of India.
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