Pakistan Essay

  • Pakistan


    My topic deals with Pakistan, its relationship with the IMF and World Bank, and
    its internal problems that are causing unemployment, poverty, economic crisis
    and hunger. I shall be analyzing the situation using the neo-classical theory,
    as it is what the economists of the Pakistan government and the IMF are using to
    alleviate the economic instability of the country. Situated in the
    sub-continent, Pakistan is a low-income country, with great promise for growth.

    Unfortunately, it is held back from reaching middle-income status by chronic
    problems like a rapidly growing population, sizable government deficits, a heavy
    dependence on foreign aid, recurrent governmental instability and large military
    expenditures. It is to address these fundamental faults in Pakistan's economy
    that the IMF has initiated the Structural Adjustment Programs (SAPs) in the
    country. This is discussed in further detail later in the paper. Like all
    developing countries, Pakistan's population is largely employed in the
    agricultural sector, which accounts for about 48 percent of the labor force. In
    today's world the Industrial and Service sectors are the largest growing areas
    of a developed county's economy. Yet Pakistan only employs 39 percent of its
    population in Service, and a minute 13 percent in Industry. This is a paltry
    figure, compared to the employment statistics of a developed country. Pakistan

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