Unsustainable Debt Burden and Poverty in Pakistan: A Case for Enhanced HIPC Initiative

Tilat Anwar

No DP2002-53, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: The financing of Pakistan's substantial current account deficits within the framework of IMF and the World Bank structural adjustment programmes—about 6 per cent of GDP in the early 1990s led to a debt crisis in the late 1990s. IMF considered this level of current account deficit quite feasible in order to allow import liberalization, while the country needed both internal as well as the external adjustment. IMF also frequently demanded devaluation of the rupee against the US dollar to enhance exports.

Keywords: Public debt; Deregulation; Financial institutions; International; Poverty (search for similar items in EconPapers)
Date: 2002
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