ISLAMABAD – Imran Khan, the cricketer-turned-politician is all set to takeoath as Pakistan’s next Prime Minister and while rival parties continue tocry foul, there is no dampening of spirits here.

The massive challenge for Imran Khan and his party though is not as muchfrom these rival parties but from what lies ahead – inheriting an economywhich is in absolute shambles.

According to certain estimates, Pakistan needs a bailout package of atleast $12 billion. And it might have to turn towards International MonetaryFund (IMF) for it. The last time the country turned towards IMF was in 2013when it got a $6.6 billion loan for a crisis of lesser proportions than theone existing now. This time though, there is no certainty that a loan iscoming.

Pakistan has borrowed from IMF heavily in past decades and re-paying hasnot always been easy. Crumbling ties with the United States means thatImran Khan may find getting IMF’s help harder than his predecessors everdid. The US has already said it would be ‘keeping a close watch’ on any IMFloan to Pakistan for it to pay Chinese debt. This essentially means thatWashington could use its clout to obstruct such help.

And help is what Pakistan needs, quite desperately.

Imports have gone through the roof, amply aided in its ascent by risingcrude oil prices. The rise in exports, in comparison, have been a trickle.The previous government stated that foreign currency reserves are down to$10.3 billion – good enough to sustain imports for only two months.

So what does Imran Khan plan on doing? What can he do?

For starters, privatisation as one of the remedies is something Imran Khanhad already tweeted about during the run-up to the elections. He also saidthat anti-graft measures and cutting back on imports could help but theseare widely seen as treating an open wound with an earbud.

Dawn reports that there is also a possibility of the country turningtowards China and Saudi Arabia but much like lunches, monetary aid ishardly ever free. Or free from implications.

Clearly then, the work ahead for Pakistan’s charismatic PM-elect is windingand one that could throw an endless stream of economic bouncers on a thornypolitical pitch.