In a world of open markets and global trade, development thinking seeks stability and prosperity for the world's poor by expanding access to financial products. This book challenges the development sector's embrace of 'financial inclusion' by exploring how the new risks and instabilities that accompany the pivot towards the global economy undermining the functioning of money itself. Cast against fundamental change in the monetary environment accompanying the globalisation of markets, the book examines the rapid liberalisation of money and markets in Pakistan. It argues that liberalisation has generated substantive problems not only for the central bank as guardian of national currency, but for ordinary households. By pinpointing how globalisation generates new risks for households in the everyday economy, the book reveals jarring contradictions between free markets and financial inclusion whilst challenging money theory by positing substantive and empirically-grounded monetary contestation that demonstrates a burden of risk imposed on ordinary people, that is only exacerbated by financial inclusion.

This paper highlights Pakistan’s 2013 Article IV Consultation and Request for an Extended Arrangement Under the Extended Fund Facility. Discussions in the IMF report focus on macroeconomic policies to address vulnerabilities and reforms to promote robust inclusive growth. The authorities’ ambitious economic program aims to reverse the current mix of large fiscal deficits and, accommodative monetary policy, and low reserve coverage, which provides few buffers to absorb shocks. The authorities have requested a 36-month extended arrangement under the Extended Fund Facility (EFF) for SDR 4.393 billion.

2011 Updated Reprint. Updated Annually. Pakistan Economic & Development Strategy Handbook

Contents: (1) Recent Developments and Analysis; (2) The Global Financial Crisis and U.S. Interests: Policy; Four Phases of the Global Financial Crisis; (3) New Challenges and Policy in Managing Financial Risk; (4) Origins, Contagion, and Risk; (5) Effects on Emerging Markets: Latin America; Russia and the Financial Crisis; (6) Effects on Europe and The European Response: The ¿European Framework for Action¿; The British Rescue Plan; Collapse of Iceland¿s Banking Sector; (7) Impact on Asia and the Asian Response: Asian Reserves and Their Impact; National Responses; (8) International Policy Issues: Bretton Woods II; G-20 Meetings; The International Monetary Fund; Changes in U.S. Reg¿s. and Regulatory Structure; (9) Legislation.

The South Asia Economic Focus is a biannual economic update presenting recent economic developments and a near term economic outlook for South Asia. It includes a Focus section presenting more in depth analysis of an economic topic of relevance for stability, growth and prosperity in the region as well as country briefs covering Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. It concludes with a data section providing key economic indicators for South Asia "at a glance". Overall, it aims at providing important background information and timely analysis of key indicators and economic and financial developments of relevance to World Bank Group operations and interaction with counterparts in the region, particularly during annual and spring meeting.

This book focuses on the implementation of the China-Pakistan Economic Corridor (CPEC), a multi-billion-dollar infrastructure development project intended to connect Asia with Europe, the Middle East and Africa. By introducing a new analytical approach to the study of economic corridors, it gauges the anticipated economic and geopolitical impacts on the region and discusses whether the CPEC will serve as a pioneer project for future regional cooperation between and integration of sub-national regions such as Balochistan, Khyber Pakhtunkhwa, the Federally Administered Tribal Areas, and Gilgit-Baltistan. Further, it explores the interests, expectations and policy approaches of both Chinese and Pakistani local and central governments with regard to the CPEC’s implementation. Given its scope, the book will appeal to regional and spatial sciences scholars, as well as social scientists interested in the regional impacts of economic corridors. It also offers valuable information for policymakers in countries participating in the Belt-and-Road Initiative or other Chinese-supported development projects.