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The Monetary Policy Ritual

The monetary policy ritual

Every month the State Bank of Pakistan announces, with a certain amount of fanfare, what it calls its Monetary Policy Statement (MPS). Maintaining that ritual, it released on July 19,…

Growing Disillusionment

Growing disillusionment

Governments cannot seriously live under the grand delusion that the ordinary public will go into a trance on being informed that the budget deficit targets agreed on with the International…

Japan’s ‘Abenomics’ Faces Critical Test

Japan’s ‘Abenomics’ faces critical test

Japanese Prime Minister Shinzo Abe's bid to light a fire under the country's long-tepid economy will this month face its most critical test with a long-awaited update to his plans…

Denying The Ground Realities

Denying the ground realities

As expected, the government responded promptly to Dr Hafiz Pasha's views expressed recently in a seminar on the woes of the economy because distortions pointed out by unbiased experts strengthen…

Vision: The Missing Attribute

Vision: the missing attribute

In recent years, budget making has been reduced to a ritual; it's glossy but unachievable promises are meant only to incite loud applause from the parliament's treasury benches, and thereafter…

The Brunei ‘model’

The Brunei ‘model’

The Sultanate of Brunei is running out of oil. Lower production levels led to a 34pc drop in crude oil exports last November, which amounted to a loss of nearly…

For A Stable Exchange Rate

For a stable exchange rate

The recent appreciation of the rupee, despite weak fundamentals, is becoming controversial, with the same interest groups first extolling it as an outcome of good financial management and now complaining…