THE prime minister has praised his economic team for an ‘economic turnaround’ that comprises declines in the current account and fiscal deficits and increases in FDI and remittances. All these are misleading indicators but one is especially egregious and contradictory. Why is the increase in remittances considered part of the economic turnaround and something that governments consider […]
Published in Dawn, June 1st, 2019 IN an article titled ‘Boom or bust’ published in Dawn two years ago, I had posed the question whether the then government would behave any differently from its predecessors and, while hoping it would, answered that, “as in the past, we will fill up the tank with borrowed money for fuel,[…]
Published in The Express Tribune, June 22nd, 2019. While there has been much debate about the strengths and weaknesses of Pakistan’s economy, the one thing that no observer of the economy can deny is its predictability. A balance-of-payments crisis forced the government to enter into an IMF stabilisation package a decade ago as did another crisis five[…]
