Secretary of State Mike Pompeo argued last month that there was “no rationale” for allowing the International Monetary Fund (IMF) to divert “tax dollars” to Pakistan, since the IMF members’ funding, including that of the United States, would be used to bail out “China’s bondholders or China itself.” Pakistan is going through a grave financial crisis.
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To many Libyan households, the top security threat plaguing their daily lives isn’t the risk of being caught in the crossfire between contending militias, falling victim to a jihadi group, or being kidnapped for ransom. A more unrelenting consequence of Libya’s dysfunctional politics is its monetary crisis. The principal manifestations—chronic shortage of dinar banknotes, along with a weak valuation of the Libyan currency in the black market—first emerged in 2014. Unlike the ongoing civil war, which also began in 2014, the monetary crisis has consistently intensified through the months.
On March 18, 2017, the G20 finance ministers and central bank governors issued a communiqué highlighting that: