Ishaq Dar, Pakistan’s new finance minister, has already served in the position for three terms. This time around, however, he must deal with a country that is experiencing an economic crisis as well as the terms of an IMF programme.On Wednesday, Dar, a seasoned politician and professional accountant, took the oath of office.The 72-year-old has the difficult challenge of restoring stability to an economy that has been in freefall for months due to several risks such as soaring inflation, a growing current account deficit, and declining reserves — and is currently dealing with terrible floodsDar, who is currently a senator, has held the position of finance minister in the past, most notably from 2013 to 2017.
Yousuf Nazar, an economist and former Citigroup banker, told Reuters that Dar is an interventionist. Most notably, the minister forced the central bank to liberally infuse foreign currency into the market to support the rupee.
