This theory was implemented for first six months didn't work because every country especially big economies work with IMF. They don't buy anything unless you're in the approval list of trusted partner.
Do you think UAE buy our bonds? Bonds are market in UK/EU/CA/US not west africa.
2nd we were under IMF rule for last 30 years since so called democracy punishment came into power for our peoples. How we can get our without paying back.
The theory applied by Argentina and their economy crush by big economies.
Current policy is long term sustainable which has slow but positive growth, the TAX net has to be increase to all who is earning more than 1 million per year. Everyone should be in books, The Real estate guys don't pay tax, property investor, trader harbour food for inflated profit, but don't pay tax, i can keep saying it again and again.
It's not same as you running your home where parents don't eat a meal but feed their children's.
Koi haram khor tax nahi daina chata, laykin profit sub se ziyada kamana chata he