Debt crisis and SDGs
‘Today, 3.3 billion people live in countries that spend more on interest payments than on health, and 2.1 billion live in countries that spend more on interest payments than on…
Debt and climate — I
While geopolitical conflict has unfortunately taken centre-stage, it is in fact debt and climate that is among the most pressing challenges facing humanity. It is indeed not how future wars…
From ‘Doing Business’ report to ‘B-Ready’ report: some reflections
In a statement released on September 16, 2021, World Bank Group (WBG) indicated discontinuation of its ‘Doing Business’ report, whereby it pointed out ‘After data irregularities on Doing Business 2018…
Planning a non-austerity, pro-growth IMF programme
In its April 2023 flagship World Economic Outlook (WEO) report, the International Monetary Fund (IMF) pointed out that economic growth enables countries in a better way to service debt repayments,…
Misplaced optimism about economy
Given elections are scheduled for early February, a few months into 2024 spring will bring into public life a new government, but the question whether or not it will continue…
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…
Inequality, poverty, and austerity–I
Two reports recently released clearly indicate that in the wake of pandemic, not only has progress on sustainable development goals (SDGs) overall slowed down significantly, the very first goal in…
Huge global economic policy challenges
‘The world is facing numerous extreme, interlinked challenges, including a climate emergency and growing economic inequalities between and within countries. Tackling these problems requires funds to flow in the right direction,…
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…
Serious economic crisis due to austerity policies, and weak multilateralism
Inadequate provision of International Monetary Fund’s (IMF’s) special drawing rights (SDRs) to Pakistan, like in many developing countries, after an initial allocation from $650 billion released in August 2021 –…
