Macro-financial risk
2026-04-26
9 minute read
10 sources
Pakistan 2026: The Sharif Coalition, the Military, and the Political Economy of Stabilization
The PML-N led coalition has bought macro calm through an IMF anchor, a curated judiciary, and a deepening security partnership with the army, but the political ledger underneath the fiscal one is the binding constraint on the next phase of adjustment.
Pakistan's stabilization in 2026 is a political artifact as much as a macro outcome. The Pakistan Muslim League Nawaz government under Prime Minister Shehbaz Sharif, in coalition with the Pakistan Peoples Party and supported by an army leadership whose Chief of Army Staff Asim Munir received a statutory five year extension, has carried th...