In May 2025 the IMF approved fresh aid for Pakistan – a $1.4 billion loan (via its Resilience and Sustainability Facility) and a $1 billion tranche of an existing $7 billion program. While IMF officials hailed Pakistan’s reforms, critics warn this marks “the 24th bailout” of Pakistan since 1958, continuing a debt-and-austerity cycle. Economists note Pakistan already spends roughly 60% of its tax revenue on debt interest, leaving only tiny shares for public welfare. For example, an analysis shows Pakistan spends ≈1.7% of its budget on education and just 0.8% on health. As a Reuters analysis puts it, each bailout has been “a borrowed chip to cover the last round of losses”. Pakistan’s critics – from opposition leaders to ordinary business owners – warn that each IMF deal comes with painful conditions. IMF programs typically force harsh fiscal austerity . In Pakistan this has meant big new taxes and subsidy cuts. Under the 2024 agreement, Islamabad agreed to hike taxes on farm inc...