Small mercies

Article Abstract:

A statement of faith in early Feb 1996 from the International Monetary Fund (IMF) did little to reassure most private observers of Pakistan's economy. While the IMF pointed to an improving budget deficit and foreign-exchange reserves and a 5.5%-6% growth rate, growth was targeted at a solid 6%. Inflation, planned at 9.5%, is as high as 20%; exports in the seven months to Jan fell 4.3% from a year earlier, while imports jumped 18%, and the trade gap for that period hit $2.3 billion. Privatization problems and violence also dim hopes.

Economic indicators

---

Talking straight: Pakistan's central banker pulls no punches

Article Abstract:

Muhammed Yakub has international credibility as the governor of Pakistan's central bank, but his outspoken candor and his harsh criticism of economic policy and Pakistani landlords have earned him domestic enemies. He has succeeded in some reforms, such as making it harder for state-owned banks to lend the govt money, but others seem virtually impossible. Inflation is independently pegged at 22%, but a surge of bad news will make it harder than ever to crack down on bad loans and govt borrowing.

Management, Central banks, Yakub, Muhammed

---

Talking tough; donors tell Pakistan to clean up its fiscal act

Article Abstract:

The World Bank and 23 other financial donors warned Pakistan that any new economic aid will depend on the level of its government's commitment to economic reform seen in the upcoming budget due in Jun 1996. Pakistan reneged on promises to initiate economic reforms in Jun 1996 that were part of a loan agreement with the International Monetary Fund. International aid donors are unhappy with the erratic pattern of implementation that Pakistan has followed with regard to much-need economic reforms.

International Monetary Fund, Finance, World Bank, Development banks

Similar abstracts:

• Abstracts: Battling the pirates: Pakistani woman fights for video marketing niche. Private entrance: Pakistani textile tycoon prospers from privatization
• Abstracts: U.S. takes steps to ease textile battle. Pakistan asks WTO's help in U.S. textile disputes. Sri Lanka will reduce tariffs in return for higher garment quotas in the U. S
• Abstracts: Italian Treasury to sell entire BNL stake. Largest Polish bank privatised. OTP success may kick-start sales
• Abstracts: Paradise lost: Indonesian properties find new monikers to please Jakarta. Suharto gives grandson's national-shoe project the boot
• Abstracts: Facing new realities: politicians' spending clashes with need for fiscal discipline. Not to worry

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.