 Macroeconomic Policies and the Balance of Payments in Pakistan: 1972-1986International Monetary Fund No 1990/078, IMF Working Papers from International Monetary Fund Abstract: This paper describes developments in the balance of payments of Pakistan during 1972-86, focusing particularly on the factors that gave rise to external payments problems and the macroeconomics policies that were adopted by the authorities. While performance on the growth and inflation fronts compares favorably with other developing countries, the balance of payments remained persistently weak. A combination of favorable external shocks, such as the large increase in workers’ remittances and sizable foreign aid inflows, allowed the economy some breathing room, but ultimately did not reduce the need for comprehensive fiscal and trade reforms to ensure medium-term viability of the balance of payments. Keywords: WP; current account; U.S. dollar; monetary policy; Peoples Party government; policy mistake; governments objective; government policy; nominal rate; government budget constraint; macroeconomic policymaking; government of Zulfiqar Ali Bhutto; Haq government; government sanction; political system; Pakistan government; Current account deficits; Government debt management; Domestic credit; Exchange rate policy; Current account balance; Middle East (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1990/078 Ordering information: This working paper can be ordered from Access Statistics for this paper More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC. |
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