Open AccessFasih Uddin. Pakistan under IMF Shadow. Islamabad: Institute of Policy Studies, 2008. Paperback. 128 pages. Price not given.
Author(s) -
Zafar Mahmood
Publication year - 2022
Publication title -
pakistan development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.154
H-Index - 26
ISSN - 0030-9729
DOI - 10.30541/v48i1pp.102-103
Subject(s) - shadow (psychology) , economics , corporate governance , developing country , financial system , business , political science , finance , economic growth , psychology , psychotherapist
Pakistan like many other developing countries has beenexperiencing both financial and fiscal instability. This is mainlybecause it has miserably failed to generate sufficient resourcesrequired for its economic development. Consequently, to supplement itsmeager domestic resources, it has been mostly seeking foreignassistance. At times when ‘friends of Pakistan’, for their own ulteriormotives, such as support for the cold war and war on terror, have helpedPakistan through project and programme aid, it has kept striving to movetowards a higher path of economic growth despite poor governance andmismanagement of the economy by its planners and economic managers. Atother times, when the ‘friends’ have been slow to coming forward,Pakistan has looked for financial aid from international financialinstitutions including the International Monetary Fund (IMF) and theWorld Bank. These institutions always attach stringent conditions tofinancial assistance. As a result, these institutions remain(implicitly) instrumental in the formulation of short- to medium-termeconomic policies of Pakistan, with outcomes that are always consideredas sub-optimal.