Ishaq Dar, the former Finance Minister, insinuated on Monday that a ‘globalconspiracy’ may have played a role in his inability to stabilize theexchange rate. In a recent interview with Samaa TV, Dar went a step furtherby asserting that international powers may have harbored intentions forPakistan to experience a financial crisis akin to that of Sri Lanka.
Furthermore, Dar raised concerns about the International Monetary Fund(IMF) and questioned why the ninth review, scheduled for November of theprevious year, was postponed until the interbank rate of the US Dollarsurpassed 270. During his tenure as finance minister, Dar had repeatedlydeclared that the US Dollar exchange rate would drop below 200, but hispredictions failed to materialize, as the rate soared above 280.
In the course of the interview, Dar attributed the delay in the IMF reviewduring his tenure to geopolitical factors, citing a ‘global wish’ to seePakistan default. These claims shed light on his perspective regarding thecomplexities of international finance and the challenges he faced duringhis time as finance minister.
In summary, Ishaq Dar’s recent statements suggest that he believes theremay have been external influences at play during his tenure as FinanceMinister, contributing to Pakistan’s exchange rate woes and delayed IMFreviews.
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These assertions offer a glimpse into the intricacies of global financialdynamics and the challenges faced by policymakers in maintaining stabilityin emerging economies like Pakistan’s