Wonder who wrote this in 2016: “..recovery has been built on shaky foundations....excessive spending drains savings, and when they run out, one must rely on the aid of others for a bailout...Excessive drainage of these reserves leads to balance of payments crises...” https://twitter.com/uzairyounus/status/1301104665484984320

The same author said: “The government that comes to power after the 2018 elections will run higher budget deficits, leading to increase in the rate of inflation. Large infrastructure and public-sector development programs will have to be cut...”

He added:”SBP will be forced to increase interest rates to curb inflation. The ensuing economic slowdown will further constrain the govt’s revenue capacity & add to the budgetary woes........the run on the Rs will be larger than what has been witnessed in prior instances”

Guess who wrote these prescient words but today speaks against current account surplus as gangrenous?

The very same person wrote in 2016:
“Given the rise in external debt, the run on the rupee will be larger than what has been witnessed in prior instances. To stabilize the value of the currency, the PML-N government has allowed it to remain overvalued—the IMF has raised the...”

“....issue in successive reports....The general population will be burdened with rising prices, a stagnant economy, and a decline in real wages. This will not be something new, for the economy has witnessed similar crises prior to each of the previous ten bailouts by the IMF...”