Last update: Thu, 27 Oct 2016 11pm

Articles and Letters

Articles  Letters

Pillars of prosperity

Published on October 27, 2016In an open letter to the IMF carried by Business Recorder (October 24, 2016), Dr Ashfaque Hassan Khan, Dr Hafeez Pasha and this writer had reminded the IMF that the recently concluded EFF programme with Pakistan had not produced the victory that was being proclaimed by the government and the IMF through the media. We showed that the accomplishments were not sustainable because they were driven by excessive build-up of foreign debt. They primarily provided a brief respite as the macroeconomic stability had been achieved without reducing the vulnerabilities of the economy and without undertaking significant structural reforms needed to put the economy on a sustainable growth path.Read full story

Launching of PMIC: Microfinance - a landmark journey

Published on October 27, 2016Microfinance is a real success story for Pakistan. The progress this country has made in just a few years has been incredible. From woefully inadequate access to banking, millions of Pakistanis have been given access to financial products - and many small businesses to much-needed finance. In 2008, when the British government through its Department for International Development began working with the State Bank of Pakistan, just 11% of people in Pakistan had bank accounts, and just 4% of women. Lending to micro and small enterprises was almost non-existent. Today, 23% of people have access to formal financial services, including 11% of women with a bank account - and there are 4.2 million micro-borrowers.Read full story

Belgium's Walloons rally in underdog fight against EU - Canada deal

Published on October 27, 2016The economically depressed Belgian region of Wallonia finds new cohesion and purpose as its people unite against a looming deal they fear will make them even poorer. Charleroi, Belgium (dpa) - Belgium's southern region of Wallonia and its 3.6 million French-speaking inhabitants have pitched themselves against the EU-Canada free trade agreement, which many fear could finish off the struggling local economy.Read full story

Partly Facetious: I'm seeing the glass as three quarters empty

Published on October 27, 2016"Dar sahib has been feting the two heads of multilateral institutions that he is borrowing heavily from."Read full story