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Approaching an ‘augmented’ IMF programme

What is likely to happen if the country goes into another International Monetary Fund (IMF, or simply the ‘Fund’) programme, which is neoliberal, and pro-cyclical in nature, as both the…

Our economic potential

“LORD, we know what we are, but know not what we may be.” Shakespeare alludes to human potential which is always higher than its present condition. Allama Iqbal elaborated on…

Managing public investment the mission-oriented way

Two renowned intellectuals – Greece’s former finance minister Yanis Varoufakis, and columnist for Guardian George Monbiot – in two separate articles recently, pointed towards a common problem: neoliberalism, and austerity,…

World Bank needs to revisit its policy and lending focus

In its recently released report ‘Pakistan development update October 2023: restoring fiscal sustainability’ the World Bank (WB), just like the International Monetary Fund (IMF) policy thinking, including as highlighted in…

A mission-oriented industrial policy

‘While it is generally true that mainstream economists have responded to industrial policy with knee-jerk hostility since at least the 1970s, things have been changing fast, owing to new academic…

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…