Stories by James Schwemlein

Expert Voices

Pakistan's new IMF agreement calls for major reforms to avert crisis

Imran Khan speaking at a lectern
Pakistani Prime Minister Imran Khan. Photo: Fred Dufour/AFP/Getty Images

Pakistan reached a preliminary agreement with the International Monetary Fund for $6 billion in support over 3 years — a much-needed infusion as the country aims to buttress foreign reserves and forestall an economic crisis.

The big picture: For decades, Pakistan's government has prioritized military investments over development, yielding a thriving nuclear weapons and ballistic missile program but declining economic competitiveness. Its performance in this latest IMF program will establish whether Prime Minister Imran Khan renews the country's Faustian bargain or becomes the change agent he has claimed to be.

Expert Voices

Reciprocal attacks inflame India-Pakistan hostilities

Indians hold placard as they celebrate after the Indian Air Force's air strike on a Jaish-e-Mohammad terror camp in Pakistan, outside a mosque in Mumbai, India on 26 February 2019.
Indians celebrate after the Indian Air Force's airstrike on a Jaish-e-Mohammed terrorist camp in Pakistan, in Mumbai, on Feb. 26. Photo: Himanshu Bhatt/NurPhoto via Getty Images

In retaliation for the Feb. 14 terrorist attack in the Pulwama district of Kashmir, which killed 44 Indian security personnel, the Indian Air Force (IAF) conducted strikes on Tuesday against an alleged terrorist training facility and madrassa complex in the Pakistani town of Balakot.

Why it matters: The operation was the first cross-border sortie by the IAF since the 1971 India-Pakistan war. Escalating tensions have sparked fears of a standoff between the nuclear-armed rivals.