Pakistan’s political stability key to deliver on new IMF aid program

By Faseeh Mangi

PAKISTAN won vital breathing space from a potential debt default thanks to a draft agreement with the International Monetary Fund, but political stability will prove key to the South Asian economy in coming months.

The political situation has been volatile in recent weeks, adding to more than a year of upheavals since the ouster of former premier Imran Khan in April 2022. Violence erupted across the country in May after the arrest of Khan, who has been facing more than 100 cases ranging from corruption to murder in various courts.

“Everything hinges on whether political stability returns,” Uzair Aqeel, a partner at London-based Nairang Capital, said in the wake of Pakistan clinching a draft agreement with the IMF for a $3 billion loan program.

As recently as last August, Islamabad had won IMF staff approval for a $1.1 billion loan, only to have the bailout program halted over failure to meet some conditions. Prime Minister Shehbaz Sharif was able to close a new deal after multiple hour-long phone calls and several meetings with IMF Managing Director Kristalina Georgieva.

“Under duress, the government has shown reforms can be initiated

GrowING up, my siblings and I were taught to always be the best version of ourselves. I think most of the generation Z was brought up that way. As such, we took the metaphor, “never rest on your laurels” quite seriously. The lifelong mission was to always strive for excellence and to accumulate as much recognition and awards in our professional lives.

Similarly, some organizations uphold “excellence” as an important corporate value to indicate that “satisfactory results,” though welcome, are not good enough. After all, there is always room for improvement in all things. Case in point is the United States Army, which has indoctrinated its troops in recent years, with a slogan that says, “Be All You Can Be.” However, becoming excellent can be life-consuming. Aristotle once said, “Excellence is a habit.” Reaching a certain pinnacle of excellence requires a sense of urgency and sometimes madness as it usually makes people fixated on managing their time, as if it is the only valuable resource in the world. Those with an excellence mindset pursue achievements like clockwork in keeping with their mantra—“our past is gone, and our future is yet to be born.”

In his book, “Becoming the Best Version of Yourself,” Matthew Kelly tells his readers that “the challenges that come our way in life are simply opportunities to change, to grow, and to become the best version of ourselves.” For Kelly, understanding that God wants us to become the best version of ourselves “is the fundamental principle of life, of Christianity, and spirituality.” Kelly said that reading life-changing books, among others, can help us bring out our best versions. It appears that both secular and non-secular writers, Aristotle and Kelly, for instance, encourage us to never settle and accept our “second best.” In contrast, chasing after the wind is a metaphor used to depict the pursuit of futility. Solomon, King David’s beloved son, and one of the richest and wisest men that ever lived, was an expert on chasing after the wind. In the Bible, Ecclesiastes 1:12-14 tells us, “I, the Teacher, was king over Israel in Jerusalem. I applied my mind to study and to explore by wisdom all that is done under the heavens. What a heavy burden God has laid on mankind! I have seen all the things that are done under the sun; all of them are meaningless, a chasing after the wind.” As we read his story, we discover that Solomon’s fame and stature grew but he stopped pursuing God and instead started chasing after the wind. Solomon chronicled everything he did in the Book of Ecclesiastes. Just as he built homes and wineries, gardens and parks, he also amassed wealth and harems of the world’s most attractive women. He worshipped other gods and religions along with his hundreds of wives. He sought laughter and joy through lavish parties and immersed himself in the study of scientific mysteries. In his own words, “I denied myself nothing my eyes desired; I refused my heart no pleasure. My heart took delight in all my work, and this was the reward for all my labor.” (Eccle- siastes 2:10) Solomon chased after everything that was outside of God’s plans and design! Most of us can readily relate to his life, unfortunately, as we chase after expensive cars and grand homes. Power. Prestige. Money. Jewelry. Shoes. We pursue everything that worldly dreams are made of and nothing short of overabundance. We are lured by the beckoning of the wind, forgetting our spiritual connection with our Heavenly Creator. Eventually, when the lights are off and the music fades, we realize that we chased nothing except emptiness.

King Solomon, the author of Ecclesiastes, said that pursuing meaningless things—things that do not have eternal significance—is only chasing after the wind. People leave behind all they achieved in life when they are finally laid to rest.

King Solomon, the author of Ecclesiastes, said that pursuing meaningless things—things that do not have eternal significance—is only chasing after the wind. People leave behind all they achieved in life when they are finally laid to rest.

“I hated all the things I had toiled for under the sun, because I must leave them to the one who comes after me. And who knows whether that person will be wise or foolish? Yet they will have control over all the fruit of my toil into which I have poured my effort and skill under the sun. This too is meaningless.” ( Ecclesiastes 2:18-19). So, there is no point of chasing after the wind when, in the process, we end in emptiness and futility.

However, from another perspective, the wind by itself is not a terrible thing to pursue. In one of his sermons, Samuel G. Candler, Dean of the Cathedral of St. Philip Atlanta, Georgia, explained that the word for wind in the Bible is the same word as Spirit. He said that from the book of Genesis to Jesus, the word for Spirit is the same word as wind. So, if we compare the Holy Spirit to the wind we chase, then we should keep chasing after this kind of wind. “God is in the wind,” Candler says. In the Bible, Jesus, knowing the wind and wisdom as associated in the Book of Ecclesiastes, once told Nicodemus, “You should not be surprised at my saying, ‘You must be born again.’ The wind blows wherever it pleases. You hear its sound, but you cannot tell where it comes from or where it is going. So it is with everyone born of the Spirit.” ( John 3:7-8). The moment we accept Jesus Christ is the time we understand that the wind c hases us and not the other way around. And whenever we welcome the wind, we start growing to become our best.

Therefore, the “best version” for the believer does not come from any transformational power that comes from our own efforts. Our best version can only be achieved whenever we integrate ourselves into the life of Christ. Our best version can be attained through His grace after being reborn in Him. Our best version is achieved only when we surrender and submit our plans to Him. In this sense, we stop being wind chasers, for the wind (where God is), is always chasing us. Others can keep chasing after the wind, which can be a spiritual and deeply satisfying pursuit. I rather allow the wind to keep blowing at me in stark reminder that the wind is the Holy Spirit, which has invigorated me with comfort, even if I can’t see it and only sense its presence around me.

A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission. For questions and comments, please e-mail me at sbmison@gmail.com.