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World Economies

World economies

Oil-dependent Arab states will be hurt as the global economy slides into recession, but a huge windfall accumulated over the past few years from oil sales will help them minimise…

Future Need Not Be Bleak

Future need not be bleak

I have used the ‘perfect storm’ metaphor before in these pages but that was always in the economic context. I have argued on several occasions that the Pakistani economy has…

Banks And The Public Purpose

Banks and the public purpose

High deficits, inflation and shrinking investment attenuate the capacity for policy intervention to raise Pakistan’s economy from stagnation. How then can countercyclical action be undertaken, of the size and sustainability…

Castles In The Air

Castles in the air

In an interview in an English newspaper on December 2, Finance Minister Dr Hafiz Sheikh painted a picture of the economy that does not even remotely resemble the economic conditions…

The Wal-Mart Lesson

The Wal-Mart lesson

Reformists argue that at a time when the Indian economy is experiencing a slowdown, with growth headed below six per cent, and the Indian rupee tumbling over the last month,…

Are Polls The Solution?

Are polls the solution?

What is our real problem? Answer: “It’s the economy, stupid.” (The phrase was first used by Bill Clinton’s campaign team during their successful 1992 presidential campaign.) Within the Pakistani economy…

First Quarter Fiscal Year 2009-10

First quarter fiscal year 2009-10

Real Sector: After several months of output decline/sluggishness, the real sector of the economy - large scale manufacturing and exports, in particular - is signalling an incipient recovery. -- Production…

Identifying Top Place Where Corruption Resides

Identifying top place where corruption resides

Measuring corruption accurately is just not impossible. Economists have used indirect mathematical tools to come up with guesstimates. It is irrelevant whether corruption in Pakistan is to the tune of…

It’s All A Myth

It’s all a myth

Whether it’s induction or dismissal of a government, macro-management of the economy, Pakistan’s joining or opting out of an alliance, or its deployment or withdrawal of troops – all important…

For Expansion Of Exports

For expansion of exports

At present, the economy is growing at a very slow pace with a high rate of inflation and a deteriorating balance of payment situation. On the external front, the country…