International law & foreign policy
The recently released Chilcot Report of the Iraq Inquiry has created quite a stir in international law and politics. Crucially, its bruising fallout for the UK and US also offers…
Protectionism as policy
President Donald Trump’s recent tariff policy is grounded in a fundamental misunderstanding of international trade economics, specifically the erroneous belief that bilateral trade deficits inherently represent unfair exploitation. Driven by…
International trade on the line
The trade war has begun, and international trade is currently under threat. International relations are also under strain, primarily due to new tariffs imposed by the US administration on potential…
Political audit of Afghan policy
THE latest clashes between Pakistani and Afghan security forces are yet another sign of the deepening rift between the two neighbours. Just three years after the Taliban’s takeover of Kabul — a moment that…
Policy rate unchanged
The Monetary Policy Committee (MPC), met under the chairmanship of the Governor State Bank of Pakistan (SBP) on 10 March 2025, and decided to keep the policy rate unchanged at…
MPC clearly in a dilemma about how to respond to policy rate question
The State Bank of Pakistan (SBP) is set to announce its monetary policy decision today. Over the past six reviews, the central bank has slashed interest rates by a cumulative…
Govt, IMF, and need for policy revisit
In March, the government and International Monetary Fund (IMF) are due to hold first review of the Extended Fund Facility (EFF) programme, which was negotiated in September 2024. There are…
Reimagining our foreign policy
The world is undergoing rapid transformation, with emerging alliances and a shift towards a multipolar world order. These changes are evident on both regional and international scales. The ongoing conflict…
Time to end neoliberal monetary policy well overdue
‘This chapter has shown that the NMPC [New Monetary Policy Consensus] is limited in four important ways. Firstly, it is based on doubtful assumptions, unwarranted generalisations, overly optimistic expectations about…
Policy rate caution
The State Bank of Pakistan (SBP) and the current economic team of the government of Pakistan must stop hiding behind a veil of overly cautious monetary policies. The latest Monetary…
