براؤزنگ ٹیگ

SBP

Old Hat, Dead Rabbits – Abid Hasan

Prime Minister Nawaz Sharif recently announced the much awaited incentive package to boost investment. The prime minister’s intent is unquestionable. But the rabbits that were pulled out of the hat were mostly dead – the incentives fall…

The Forex challenge

Pakistan suffers from two structural deficits of the budget and the current account of the balance of payments. The budget deficit is being financed heavily by the printing of rupee notes. It is within the power of the State Bank of…

An Economy Taken Hostage

An IMF mission is reported to have arrived in Islamabad to evaluate the performance of the government in relation to the quantitative targets and benchmarks for the end of September 2013 agreed between the IMF and the government under the…

Ominous Trends

The external balance of payments position of Pakistan has deteriorated sharply in the first quarter of 2013-14, as per the recently released SBP figures. The overall deficit has been recorded at $1368 million, despite the release of the…

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 Balance Of Payments Outlook

In response to questions by journalists about the costs and benefits of entering into a new loan arrangement with the IMF, the finance minister rightly pointed out that the country would have defaulted on its external debt repayments…

So The PM Sang

During the election campaign – and immediately after – Prime Minister Nawaz Sharif had repeatedly stated that proper management of the economy would be the top priority of his government. There was a great deal of anticipation that he would…