Even some of our exports were doing well; tourism was also doing very well. All these were sucking in a lot of imports. That was good, foreign reserves going down due to imports, which go into productive areas is good, but our balance of payments could not sustain that because our exports were not increasing.
But support has to be linked to conditionality which covers the actual causes bearing in mind that the formula for overcoming a crisis might not be the same for every country affected. This function of the IMF as a catalyst is not a minor role. In today’s world, it is a crucial one for which adequate financial resources are essential.