Pakistans Relationship with IMF and World Bank Essay

Pakistans Relationship with IMF and World Bank 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†¦show more content†¦This is a great illustration of a theme discussed in â€Å"World Hunger, Twelve Myths.’ Lappe, Collins, Rosset and Esparza discuss the commonly believed myths about why hunger and poverty exist. In it they clarify this very important point: hunger does not exist due to a shortage of available food, but because of ‘fear’ and ‘powerlessness,’ resulting in the ‘anguish, grief and humiliation’ felt by the hungry and poverty stricken. Pakistan is a classic example of this theory. Based on a feudal system, especially in agriculture, Pakistani society is primarily controlled by feudal overlords, (a.k.a. the politicians or relatives of politicians), who own or oversee most of the agrarian land and industrial base. Being above the law, due to their political influence, these corrupt people can literally get away with murder. Thus, keeping their laborers subdued and underpaid is no hard task. Anyone who dares to complain is used as an ‘example’ for potential future unrest. As a result, the people in their ‘elakhas’, (controlled lands), remain destitute in the throes of poverty, unable to help themselves due to their lack of power and the fear of the ‘thekedars’, (large landowners). By a lack of power, I refer not to a dearth of physical prowess but to a scarcity of basic human rights. These are the same rights that people in developed countries take for granted. The right to vote for whomever one feelsShow MoreRelatedGlobalization And Its Impact On Pakistan s Economy978 Words   |  4 Pagesimpact on Pakistan’s economy Submitted to: Miss Ayesha Submitted by: Syeda Fatima Nadir Semester: 6 Major: Economics Introduction: Globalisation is the process of international unification that arises from the exchange of world views, ideasRead MoreForeign Direct Investment Into Pakistan977 Words   |  4 PagesThe dissertation topic will focus on the importance of foreign direct investment into Pakistan’s Economy and will also focus around the causes of foreign direct investment. 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