« Globalization and Olympics | Main | Terrorism creates employment »

Staying away from IMF

"Our micro economic indicators are stable and through economic reforms the country has achieved economic sovereignty. By the end of this year the country will say goodbye to IMF programme as we are in a position to raise resources on our own from the international market," Aziz told the National Assembly yesterday after winning the vote of confidence.[Shaukat Aziz promises to say goodbye to IMF loans]
That's a statement by Pakistan's third Prime Minister under Gen. Musharraf. But the problem is that if you raising capital from the markets, you should provide stability and an environment for businesses to thrive. If you try to globalize without having the infrastructure in place, the international investors can be much more tough than the IMF

The image of Pakistan for the outside world is not that of a region of stability. With assasination attempts on the current leaders and with terrorists using the land as staging areas for activities against India and Afghanistan, it may not look favourable for international investors. And it not just Pakistan's enemies who are telling this.

Here is our other dilemma. The world is moving towards integration â?? the European Union, ASEAN, the North American Free Trade Agreement (NAFTA) and Mercosur. Pakistan is an aberration where centrifugal forces - or forces of disintegration - are gaining momentum. Our strategic-tactical contradiction needs to be resolved in order to strengthen the Federation. The dialogue with India is a healthy sign but what would be even better is an open dialogue within Pakistan.[Our world of dilemmas]

Comments (2)

The statement seem to have been made for internal consumption. Also pakistan might not need to approach international investors for resources, it can get whatever resources it want by conning the US.

The foreign business in Pakistan is thriving like never before becuase of the Govt's investor friendly policies.


It is a great achievement that Pakisan would be able to Say GoodBye to IMF loans.

As far as the stability and peace is concerned, Pakistan is having to face all these troubles because of being part of international coalition against terrorism. And Pakistan is really paying the price for it like no other coalition country.

M Tabraiz Feham
http://tabraizfeham.blogspot.com

Use your Open ID to sign in. If you don't have an Open ID, it is worthwhile to create one or you can use your TypeKey to sign in

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)

Recent Comments

Blogroll

About

This page contains a single entry from the blog posted on August 31, 2004 8:08 AM.

The previous post in this blog was Globalization and Olympics.

The next post in this blog is Terrorism creates employment.

Many more can be found on the main index page or by looking through the archives.

Powered by
Movable Type 3.31