imf economist, reza baqir, state bank of pakistan

And in just no time, the IMF Economist Dr. Reza Baqir is appointed as the new governor of the State Bank of Pakistan for a three year contract.

Pakistan Ministry of Finance just appointed the IMF Economist to head the Central Bank during the ongoing talks with the International Lending Agency, IMF (International Monetary Fund), over $8 billion package for the bailout.

Dr. Abdul Hafeez Sheikh is appointed as the new Prime Minister Advisor on Finance.

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This happened on late Saturday, after the Ministries removed, Tariq Bajwa from leading the Central Bank and the Director FBR (Federal Board of Revenue), Jahanzeb Khan was also removed.

However, there is no announcement of the Director of Federal Board of Revenue, and the guessing game is on.

Reza Baqir, born Pakistani and Aitchison alumnus, graduated with his PhD from the University of California, Berkeley. He joined hands with IMF in 2000 and has worked for 16 years. He was appointed as the Chief of IMF’s Debt Policy Division. The economist worked on the IMF policies on external debt sustainability and the member countries that are involved, restructured them.

Before working with IMF, Dr.  Reza Baqir known affiliations were World Bank, Massachusetts Institute of Technology and the Switzerland’s Union Bank.

Dr. Baqir will be the second IMF in-house to handle Pakistan’s Central Bank. It was Dr. Muhammad Yaqub back in 1993 that led the State Bank of Pakistan till 1999 from the International Monetary Fund.

The news spread and the opposition started bashing saying that the PM Imran Khan is handing over the country to IMF.

Ms. Aurangzeb started with saying “Pakistan is compromised and this time the East India Company did not even need to fight because the incompetent prime minister dished it out to the IMF on a platter”.

Bajwa and Khan were part of the team that was supposed to conclude the meeting with IMF in Islamabad on the upcoming Tuesday.

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