View from the central bank

Ishrat Husain, governor of the State Bank of Pakistan, talks to Euromoney’s Jules Stewart about economic reform, the attraction of foreign investment and privatization.

What have you achieved in terms of restructuring Pakistan’s finances over the past year and how can this translate into investment?
Our primary objective has been to achieve stability in our external accounts. In 1999 we were on the brink of default and lacked the resources to service our external debt. We wanted to be quite sure that any unanticipated shocks to our economy would not lead to a crisis. We have now established our credibility with international financial institutions.

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