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Dr Ashfaque Hasan Khan

Consultation On HDR 2014

The Human Development Report Office of UNDP New York, UNDP Pakistan, and the National University of Sciences and Technology (NUST) jointly organised a two-day South Asian Regional Consultation on Human Development Report HDR 2014 and…

A Fine Balance

‘Stabilisation-first’ versus growth-stabilisation balance has been under debate ever since the approval of the new IMF programme for Pakistan. Many, this writer included, are of the opinion that the IMF programme’s notion of…

Heartless Stabilisation

The design of the newly-approved IMF programme for Pakistan is under scrutiny. Many, including myself, believe that this is a 1980s vintage of the ‘stabilisation first’ programme which has already lost its charm, particularly after the…

Disaster Ahead

In my previous three articles (September 17, September 24 and October 1), I have summarised the various aspects of the IMF programme and its likely impact on Pakistan’s economy in general and the people of Pakistan in particular. Let me…

More On The Programme

Last week (September 17), I wrote on the design of the newly approved IMF programme for Pakistan. My view was that the programme is of the 1980s vintage with a focus on ‘stabilisation first’, emphasising on budget deficit reduction and…

The IMF Programme

The Executive Board of the IMF has approved a 36-month programme under the Extended Fund Facility (EFF) for US$ 6.68 billion on September 4, 2013. After the board approval, the IMF has released the first tranche of $540 million to the…

India’s Economic Woes

India is experiencing what can only be termed an alarming economic downturn. A rapid slowdown in its economic growth and depletion in its foreign exchange reserves have been compounded by a tumbling currency, yawning current account…

A Nation’s Debt

The prime minister, in his address to the nation, expressed his concern about the rising debt of the country. His concern was right because high and rising debt constitutes a serious threat to economic prosperity. It acts as a major…

Reflections On Prior Actions

Pakistan and the IMF have reached a staff level agreement for a $5.3 billion bailout programme, which is likely to be presented to the executive board of the IMF in early September for approval. However, before the programme is presented to…

Emphasising Development

Five years of economic mismanagement and poor governance by the previous regime have not only damaged the economy but also severely weakened key institutions of the country like the State Bank of Pakistan, the Ministry of Finance, the…