Lessons from Athens: a note on fiscal sustainability
As Greece flounders on the edge of unchartered socio-economic territory, awaiting an Odysseus to steer its ship back to safety, the world looks on with bated breath as to whether…
Budget FY25: Test of fiscal discipline
Walking a tightrope to balance income against expenditure without hurting the people and losing political capital has always remained a challenge for the finance minister of Pakistan who is making…
Fiscal rules revamp may threaten calm in euro zone’s fragile bond markets
The recent calm in bond markets of the most indebted euro zone nations could quickly flip to turmoil in 2024 if investors already nervous about debt sustainability and high interest…
Developing countries and the challenge of fiscal space
Developing countries, in general, are faced with a serious lack of fiscal space to make needed investments to reach a much-needed resilient economy in view of a fast-unfolding existential threat…
Fixing fiscal policy
Fiscal discipline and effective financial management are the cornerstones of a nation’s economic stability and growth. In Pakistan, however, persistent fiscal mismanagement has been a recurring challenge for both federal…
Fiscal discipline key to reforms
Before Pakistan can embark on the long and tedious journey of structural reforms, fiscal discipline must be embraced wholeheartedly. Fiscal discipline refers to the practice of governments maintaining sound financial…
Global economic crisis: Neoliberalism, debt sustainability, SDRs, and multilateralism
The global economy is facing existential threats of climate change and Pandemicene crises. The underlying basis for the perpetuation and hastening of both the crises is Neoliberalism. Here, it needs…
Road to self-sustainability
During the last few decades, global economies have been facing tough challenges. The recent spell started in March 2020 when Covid-19 jolted domestic and international business activities, besides taking heavy…
Beyond GDP: equity, wellbeing and sustainability
Let me start the article by giving two quotes in order to lay the basis for understanding why it is important for policymakers to give far less importance to gross…
Fiscal federalism
The stagnant fiscal space and mounting debt repayment requirements pose enormous challenges to long-run fiscal sustainability. Apart from budgetary space and debt obligations, the rules of the game defined under…
