opinion_786
Politcal Worker (100+ posts)
gdps accounts for the whole of the production activity of a country restricted into its geographical borders which also include the fdis (foreign direct investments), greenfield investments and joint ventures of the foreign stake holders which comprises of the foreign mncs and government institutions. Therefore in case of any conflict and economic volatility they are usually the first ones to shift there investments and finances from their host country. This can briefly explain to some extent the sorry state of pakistanis economy after the end of 2007 fiscal year. Gdp never accounts for the equitable wealth distribution and economic disparity of any country and therefore no matter how much inflated their gdp numbers showed up to convince the foreign investors and donor agencies the true state of such countries never become evident to the world apart from the indicator of hdi. Therefore the world leaders of economic growth rate based on gdps china and india are on the lowest matrices (china ranked 92 and india at 134 out of 182 countries) of the hdi as per the latest report of undp which was made public on october 2009 and contained the data of total 182 available countries up till the year of 2007.
Listen to what the international agencies were saying. Human Development Index improves over a period of time with constant growth.
PAK Economic growth has bolstered intl confidence: WB
http://www.dailytimes.com.pk/default.asp?page=2007\03\23\story_23-3-2007_pg5_16
23-03-2007 - WASHINGTON: Pakistan's continued high growth and attractive business prospects have bolstered international investors' confidence and expanded US-Pakistan cooperation in various fields can help realize the South Asian country's enormous economic potential on modern lines, American and World Bank experts said at a discussion.
The discussion on "Sustaining Economic Reform in Pakistan was jointly sponsored by the Pakistani American Leadership Center and the SAIS South Asia Studies Programme at Johns Hopkins University.
Kronstadt noted that Pakistan has sustained good macro-economic trends and underscored that human capital development and continuity of reforms would further spur economic prospects in the long-term. In the context of regional stability, he said the US involvement could help facilitate resolution of outstanding issues between Pakistan and India.
Pakistan has seen the emergence of a large middle class in urban areas, he said and was confident that it would propel economic growth in Pakistan in the years ahead, laying the basis for sustainable industrial progress. "The economic reality of Pakistan has a lot of good news to offer the poverty is reducing, the middle class is growing and a widely spread out organized banking system offers a basis for sustained and fast-paced growth."
Mexico, Indonesia, Pakistan and Turkey - the emerging markets to watch
tuesday 1 may 2007
http://www.grant-thornton.co.uk/press_room/mexico,_indonesia,_pakistan_an.aspx
mexico, indonesia, pakistan and turkey are in a favourable position to become the new generation of emerging economies to have significant impact on the global economy claims grant thornton international. Following on from the grant thornton international business report (ibr) in february 2007 into the impact of the bric economies (brazil russia, india and china) on the global market place the international accounting organisation has identified mexico, indonesia, pakistan and turkey as the front runners to inherit the bric mantel from the original four. These countries may match or even overtake some of the commonly identified bric economies (brazil, russia, india and china) which are expected to join the global economic powers.
Although these economies are unlikely to match india or china in strength, they certainly have the potential to rival brazil and russia in terms of economic strength.
Alex macbeath, global leader of privately held business services for grant thornton international, said: indonesia and pakistan, with their large populations, have the potential to grow their labour-intensive exports and could capitalise on the process of low-cost production that mainland china has so successfully exploited. Mexico, as the 14th largest economy in the world, is benefiting from its close trading ties with the other north american free trade agreement (nafta) countries and is well-placed to play a more significant role in the americas. Turkey is expanding robustly and is on the path to making the transition to a modern industrial economy and is set to increase its influence in western europe and the middle east.
NEXT 11 countries after BRIC
http://en.wikipedia.org/wiki/Next_Eleven
The Next Eleven (or N-11) are eleven countriesBangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, South Korea, Turkey, and Vietnamidentified by Goldman Sachsinvestment bank as having a high potential of becoming the world's largest economies in the 21st century along with the BRICs. The bank chose these states, all with promising outlooks for investment and future growth, on December 12, 2005.
Goldman Sachs used macroeconomic stability, political maturity, openness of trade and investment policies, and the quality of education as criteria. The N-11 paper is a follow-up to the bank's 2003 paper on the four emerging "BRIC" economies, Brazil, Russia, India, and China.
World Bank President praises Pakistan's recent economic achievements
http://goliath.ecnext.com/coms2/gi_0199-3651986/World-Bank-President-praises-Pakistan.html#abstract
World Bank President James D. Wolfensohn has praised Pakistan's economic achievements and its bold reform program urging the importance of avoiding the risk of complacency that sets in with success, and emphasized that the challenge now is to sustain reforms in order to accelerate growth and achieve the Millennium Development Goals.
"The progress has been terrific. Now Pakistan must stay the course until the benefits of its achievements reach the vulnerable sections of the society including the very poor, women, children and the disabled," said Mr. Wolfensohn.
IMF praise for Pakistan
http://news.bbc.co.uk/2/hi/business/2677821.stm
George Abed, the IMF's new Middle East director and in charge of its Pakistani operations, said he was "very pleased with the record of Pakistan in the past three years of continued macroeconomic and financial stabilisation".
He added: "We have begun to think of Pakistan as a country of promise and a country of potentially high rate of growth."
Listing Pakistan's achievements over the past three years, Mr Abed said inflation had been brought under control and interest rates had been cut, while a falling budget deficit and rising foreign exchange reserves were now at a "comfortable level".
Economic stability has boosted the Karachi Stock Exchange.
Inflation is currently running at 3.6% a month, lending rates stand at 11%, and central bank reserves have jumped from $600m in 1999 to $9.4bn this month
"ADB praises micro-finance in Pakistan
http://www.dailytimes.com.pk/default.asp?page=story_28-12-2004_pg7_40
ISLAMABAD: The Asian Development Bank (ADB) has praised the achievements of micro-finance in the country, according to a statement issued on Monday. The ADB delegation participated in the international conference on micro-finance. The statement said the process of micro-finance sector development in Pakistan, started in 1999, was a model for third world countries.
Global financial bodies upbeat about Pakistan's economy
ISLAMABAD (February 19 2007): Despite internal law and order problems, the month of February appears to be highly encouraging for Pakistan as several international financial institutions have painted a very upbeat picture of the current and future outlook for its economy.
Summary of the three reports of the J. P Morgan, the Merrill Lynch, and the City Group on the performance of Pak economy have already appeared in the press in addition to a very positive report of the World Bank released in Washington on "Doing Business in South Asia - 2007, which gives high marks to Pakistan in improving its business environment.
The World Bank has ranked Pakistan 74th as against India at 143 in the ranking of doing businesses in the world, and declared it as the runner-up reformer in the region in implementing reforms to simplify cross border trade and reduce corporate tax rates.
Yet another global investment and financial institution, the Goldman Sachs, has released its report on Pakistan growth potential giving high marks to its current and future economic prospects as well as to the prudent handing of economy by economic team of the government.
(clap)(clap)(clap)(clap)(clap)(clap)(clap)
Long Live Musharraf !!! Alhamdulillah Pakistan First!
