Pakistan, May 4 -- The Finance Ministry's assurance that Pakistan's IMF programme remains "completely on track" comes at a time when the economic narrative is being tested by rising diplomatic tensions. Reports that India has formally requested the IMF to review Pakistan's $7 billion Extended Fund Facility and an additional $1.3 billion climate-resilience loan are a stark reminder of how regional politics can cast a shadow over economic recovery.

India's move, on the heels of a tragic attack in Indian-administered Kashmir, risks further politicising (as if that was possible) an otherwise technocratic financial process. Islamabad's recent gains, whether they be in fiscal consolidation, foreign reserves, or investor sentiment, should be ev...