According to the Financial Times, Pakistan now faces a 90% chance of defaulting on its debt. This will not surprise anyone who is an observer of Pakistani politics. In Pakistan day by day people die, corruption remains endemic, inflation rises due to high prices and even higher taxes, electricity and clean water are scarce in rural areas and instability rages. Yet despite this debacle, the Pakistani elite continue to follow a failed IMF backed strategy. This approach is not just delusional, but if unchecked will lead to the eventual destruction …