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The exchange rate: a steady hum of discontent

No economic variable captures the popular imagination in Pakistan more than the exchange rate. After Pakistan moved from a fixed to a flexible market exchange rate in the summer of…

Exchange rate volatility and exports

The exchange rate is a crucial component of trade and a dynamic macroeconomic determinant. The trade balance is impacted by exchange rate fluctuations. The growth process is slowed down as…

Pakistan’s Foreign Exchange Earnings

Pakistan’s foreign exchange earnings

If one is to extend appreciation to any one (individual or group of people) for saving the Pakistani economy from complete collapse it is not our finance ministers from Dar…

Pakistani rupee: a wayward currency

Hard currencies like the US dollar, Euro, pound, are independent free floats, and their value contingent on demand and supply which may fluctuate daily. However monetary authorities, be it a…

Shape up or ship out!

For the past few months, there has been significant concern and consternation over the possibility of a Pakistani “default,” which has been extensively covered in both local and international media.…

PML-N versus PML-N

The markedly different perceptions of the state of the Pakistan economy today between PML-N’s stopgap finance Minister Miftah Ismail (stopgap as his appointment both times was subject to Ishaq Dar’s…

A recalcitrant rupee!

The budget for the current fiscal year, reviewed and amended by the International Monetary Fund (IMF) as a prior condition for the staff level agreement (SLA) on the Stand-By Arrangement…

A low growth trap: assessing challenges

Over the past two years, the Pakistani economy has weathered a highly turbulent period. Inflation reached unprecedented levels, marking a historical peak, while real economic growth plunged into negative territory…

Claims of economic improvement

The narrative of the stakeholders today is that there has been a noticeable uptick in various macroeconomic indicators – those that relate to the productive sectors (agriculture, industry), those that…

Design flaws in IMF programme

The International Monetary Fund (IMF) programmes are regarded as well designed by other multilaterals (with routine consultation amongst themselves on not only synchronizing their policies but also ensuring that there…