Confused signals

Article Abstract:

US policy towards Cambodia following the ousting of Prime Minister Prince Norodom Ranariddh has been confused, and some Republicans have queried the US response. US officials have denounced the use of violence by Hun Sen in taking power, but they have also accused Ranariddh of negotiating with the Khmer Rouge. The US State Department withdrew aid to Cambodia following the violence, but for only 30 days. The US continues to acknowledge Ranariddh as first prime minister, but it has not pressed for him to be reinstated as government leader.

Intnl Affairs & Finance, National Security and International Affairs, United States, United States foreign relations, Cambodia, Cambodian foreign relations

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Have mercy on us: IMF loosens Pakistan's fiscal corset

Article Abstract:

The International Monetary Fund has agreed to support Pakistan's decision to run a larger deficit than expected this year, saying the country's moves are in the right direction. The deficit will exceed the planned 4% of GDP by an as-yet-unannounced amount, but GDP growth and govt revenues are both behind schedule. At present rates the govt will raise only 201 billion rupees this year, 58 billion less than planned, but it hopes to increase tax revenues and reduce smuggling. Anti-inflation measures may curb higher taxes.

Economic aspects, International Monetary Fund, Economic development, International relations, Pakistani foreign relations

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The money washers

Article Abstract:

Pakistan's offering of unregistered bonds hasbeen deemed by the US Securities and Exchange Commission as a scheme for laundering criminally obtained money. Preventing drug dealers from enjoying therewards of their activities is the point of the US, while Pakistan simply wantsto regain funds it lost in illegal capital exports. US interests cannot be fully served by simply controlling the symptom and not the problem. Pakistan, on the other hand, should also be less blatant in marketing its unregistered bonds.

Cases, Column, Securities, Money laundering

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