Has State Bank Of Pakistan Found Its New Governor In IMF Employ, Dr. Reza Baqir

Perhaps they found no other way round to help with the country’s economy, other than asking IMF to intervene. The discussions are almost finalized and IMF will soon be regulating policies to recover whatever it will be lending to Pakistan over the course of three years. But it seems, this time around, they will also have their person overlooking state matters in the country as well. If news sources are to be believed, Dr. Reza Baqi, IMF employee is being considered for the post of the governor of State Bank Of Pakistan.

Reza Baqir is a senior resident of IMF in Egypt. He is also the Ex mission chief of IMF in Romania ,ex president of IMF debt policy division, a Harvard alumni and PHD from California.

Earlier, the government had sacked not only the governor of SBP Tariq Bajwa and Federal Bureau of Revenue Chairman Jahanzeb Khan. The firing of two senior officials came after Finance Minister Asad Umar stepped down from his position during vital bailout negotiations with IMF.

Whether the government is overhauling its financial team amid weakening growth rates and soaring inflation or whether it is trying to abide by the internal policies and conditions set by IMF, is not known to the public. The IMF is pushing Pakistan to embrace a more flexible rupee policy, painting a rather gloomy picture for economic growth over the coming years.

Sources claim given into the IMF program, the economy for next 3 years will be managed by IMF with no policy of the government existing any more. The only benefit will be constant policies for next 3 years and no abrupt decisions.

Along with Reza Baqir, three other names being considered for governor SPB include Ashfaque Hassan Khan, Dr Waqar Masood and Dr Wajid Rana.