IF anything, the IMF reviews capture the paradox of Pakistan’s economic management. The numbers may be improving, but the economy itself remains largely unchanged. The government is meeting some fiscal and monetary targets while missing reforms that would alter how the state and markets actually function. There is something increasingly tiring about watching these IMF reviews. The IMF mission arrives. The government presents its case. Officials hold meetings. Statements are issued. Then the Fund’s assessment comes out, identifying almost exactly the same strengths and weaknesses that were........

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