The austerity delusion on June 20, 2019The recently announced annual budget is one that would clearly be described as austerity-focused, with a view to satisfying the IMF board’s whims so that an already negotiated extended fund facility might be approved and lines of credit to Pakistan might resume. The budget comprises various belt-tightening measures on public expenditures, but there are also […]
The Austerity Delusion on June 19, 2019The recently announced annual budget is one that would clearly be described as austerity-focused, with a view to satisfying the IMF board’s whims so that an already negotiated Extended Fund Facility might be approved and lines of credit to Pakistan might resume. The budget comprises various belt-tightening measures on public expenditures, but there are also […]
The Maturity of Debts and Governments on June 3, 2019The looming fears of an economic recession in Pakistan and a difficult negotiation process with the International Monetary Fund are drawing increased public and media attention to the debt and deficit position of the country. Judging from recent figures and from a wider consensus of estimates, Pakistan’s ability to borrow and to repay are coming […]
Has the FATF failed? on May 11, 2019The Financial Action Task Force (FATF) is an inter-ministerial body that aims to curtail international money laundering and terrorist financing by setting standards for national financial architectures. It is a voluntary body comprising 40-odd countries, with affiliate regional groups including the Asia-Pacific Group (APG), which Pakistan joined as a Senior Associate (but not full) Member. […]