Coronavirus and global financial crisis
From the start of 2020, coronavirus (COVID-19) confirmed cases are rapidly growing around the globe. This pandemic started in China and in the last seventy days the total number of…
Global economic prospects under Covid-19 crisis
Covid-19 has badly exposed the lack of interdisciplinary approach of mainstream economics – the theoretical basis for widely practiced economic policy, both at the level of most countries and multilateral…
Covid-19 and ‘Green New Deal’ — I
The multiple failings of neoliberal agenda since its beginnings in the late 1970s - manifested in economic policies, including those of structural adjustment programmes by multilateral institutions like International Monetary…
Debt, deficits, and welfare during the pandemic
The global pandemic has pushed the world, especially the developing countries, in a very uncertain territory with regard to economic recovery, which in most parts depends on finding an appropriately…
Oil market: issues and outlook
From the start of the millennium – to be more precise since 1999 – till around the middle of 2008 when the Global Financial Crisis (GFC) went into full gear,…
Global economic growth woes in the midst of pandemic
“The COVID-19 crisis has been a brutal reminder that, for all of our wealth and technological mastery, we are still vulnerable to catastrophic tail risks. To ensure future prosperity, we…
SDRs: Allocation, reallocation, and fiscal usage
Writing in the wake of the Global Financial Crisis (GFC) in 2009 in a Project Syndicate published article ‘The new IMF’, the then executive director of the International Monetary Fund…
Australia’s shrinking monetary policy arsenal tests RBA’s orthodoxy
Australia's strong economic performance of recent decades has allowed its central bank to avoid the kinds of unorthodox policies seen in other countries, but record low rates mean less conventional…
Need for a ‘new normal’ economic recovery
The pre-Covid world was a neoliberal world, which exacerbated income inequality between the rich and poor within countries, and the gap between the developed and developing countries in general. This…
The growth rate controversy
Pakistan Bureau of Statistics (PBS) has claimed Gross Domestic Product (GDP) growth rate of 3.94 percent in the current fiscal year (a projection as data for the last three months…
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