Pakistan’s prime minister on his drive to modernise the country
In the 1960s, when Pakistan was in its adolescence, the country brimmed with hope and promise. We had a date with destiny. The nation was widely thought ready to become the next Asian tiger. In 2022, however, Pakistan finds itself mired in its latest economic crisis.
This one is born out of the most challenging global policy environment of our lifetime, characterised by a commodity supercycle, historic monetary tightening at America’s Federal Reserve and a conflict in Europe that is tearing apart the post-war global order. But it also stems from home-grown weaknesses: weaknesses that have been left unaddressed for the better part of five decades; weaknesses that have forced us to approach the IMF multiple times during that time.… Seguir leyendo »