Hopes and fears

AS nothing concrete has so far come out of the government's efforts to get financial support to tide over the deepening economic crisis and time is running out before obligatory payments become due, there is a palpable sense of apprehension in the air. However, top government functionaries, the President, the Prime Minister and the Advisor on Finance sound very optimistic. The Prime Minister, attending the World Economic Forum at Istanbul, appeared to suggest to Reuters that the issue was quite simple: there was no possibility of default and, besides, Pakistan could avoid the IMF if friendly countries were to come forward with their help. The President believes that the crisis is only temporary. The Advisor to PM on Finance is so confident of the country's strength that he asserts the acceptance of IMF "on our terms", which looks quite incongruent given the ground realities.