BG

Leadership not IMF is the issue

Posted on Oct 29, 2008

Published in DAWN Pakistan’s current economic meltdown is a crisis of competence if judged in light of the recent past. In the context of history, it represents a colossal failure of the establishment’s long-term foreign and economic policies. Pakistan desperately needs four to five billion dollars to avoid default on its external obligations. The government is working on the multilateral institutions and Friends of Pakistan to raise...

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Leaders endorse IMF in aiding stricken economies

Posted on Oct 25, 2008

October 25, 2008  By CHRISTOPHER BODEEN – BEIJING (AP) — Seeking a common approach to the global financial turmoil, Asian and European leaders called for new rules guiding the global economy and a leading role for the International Monetary Fund in aiding crisis-stricken countries. The 43 nations participating in the Asia-Europe Meeting summit reconvened for a second day of meetings in China’s capital Saturday, a day after...

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Iraq sees nationalism surge despite Iran’s influence

Posted on Oct 24, 2008

By Patrick Seale,   Special to Gulf News Iran’s opposition appears to be a major reason why, after eight months of arduous negotiations, the United States and Iraq have so far failed to reach agreement on a Status of Forces Agreement (SOFA), although such an agreement is urgently required. The UN Resolution, which authorised the deployment of US and Coalition forces in Iraq, expires on December 31. After that date, stripped of...

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China, an Engine of Growth, Faces a Global Slump

Posted on Oct 23, 2008

The New York Times October 23, 2008 By JIM YARDLEY and KEITH BRADSHER BEIJING — For three decades, China has fueled its remarkable economic rise by becoming the world’s workshop and unleashing a flood of low-priced exports. But faced with a possible global recession and weakening demand for Chinese exports, the question now is whether the ruling Communist Party can prevent the financial crisis from derailing the country’s economic...

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The Fund faces up to competition

Posted on Oct 22, 2008

Financial Times By David Rothkopf Published: October 21 2008 18:59 For weeks, the headlines have been dominated by banks faltering and countries propping them up. But we have entered a new phase of this crisis in which countries themselves are starting to struggle. Where these battered countries are first turning for help illustrates that what we are witnessing is different from anything we have seen before. It also lays out a clear...

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Pakistan muzzles its guns

Posted on Oct 20, 2008

Asia Times Online October 20, 2008 By Syed Saleem Shahzad   KARACHI – Cash-strapped Pakistan, after the failure of operations against militants in Bajaur Agency and the Swat Valley, has had to call off an offensive in the North Waziristan tribal area, and instead negotiate ceasefire deals. Nevertheless, relentless pressure from the United States will not allow Islamabad to remain inactive for too long. This would have been the...

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West lowers sights in Afghanistan as war drags on – Reuters

Posted on Oct 19, 2008

By Jon Hemming KABUL, Oct 17 (Reuters) – Western leaders are reawakening to the reality of Afghanistan — that it is famously unforgiving to foreign forces on its soil and claiming victory there depends on how you measure success. There is now a gloomy chorus of acknowledgements that Taliban militants are spreading their influence, the government of President Hamid Karzai is ineffectual and corrupt and Western military...

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Multi-lateral lenders willing to release funds to Pakistan if they get a clear nod from the US: Reuters

Posted on Oct 18, 2008

Sat Oct 18, 2008   ISLAMABAD (Reuters) – The top U.S. diplomat for South Asia began a series of meetings with Pakistan’s leaders on Saturday, with the U.S. ally facing a looming balance of payments crisis as well as rising Islamist militancy. The visit by Richard Boucher, Assistant Secretary of State for South and Central Asian Affairs, came a month after a diplomatic spat over U.S. ground and air incursions targeting al...

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Financial Crisis: IMF Is Out Of It
Oct15

Financial Crisis: IMF Is Out Of It

Posted on Oct 15, 2008

October 13, 2008 Brian Wingfield and Deborah Orr Following a packed weekend of meetings here, many of the world’s top economic officials are returning to their home countries Monday to deal with the next stage in the ongoing financial crisis. There are an array of lessons to be learned from the last few days, which included the annual meetings of the International Monetary Fund and the World Bank, as well as separate summits of...

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Pakistan: Need for a new era of strategic ties with China

Posted on Oct 15, 2008

From DAWN October 15, 2008 President Zardari’s visits China at a time when the global economic power balance is undergoing a historic shift. “End of US era – now China calls the tune”, declares a headline of Sydney Morning Herald, Australia’s oldest and most respected newspaper. “Can Chinese Cash Save the World’s Banks? “, runs a lead story in Time. “Is this the end of the American era?” is the title of an op-ed by noted...

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America’s quest for hegemony

Posted on Oct 13, 2008

Published in the NEWS The current received wisdom in the United States is that the militants in northwest Pakistan have provided safe havens to Al Qaeda has along the Pakistan-Afghanistan border and the greatest threat to America’s security comes from this region. No US official or journalist or think-tank has ever raised or answered the question that Alan Greenspan posed in his book, The Age of Turbulence: “There was no bigger...

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The Next World War? It Could Be Financial
Oct12

The Next World War? It Could Be Financial

Posted on Oct 12, 2008

By Peter Boone, Effective Intervention and Simon Johnson, Peterson Institute for International Economics Op-ed in the Washington Post October 12, 2008 The global financial outlook grows more dire by the day: The United States has been forced to shore up Wall Street, and European governments are bailing out numerous commercial banks. Even more alarmingly, the government of Iceland is presiding over a massive default by all the...

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Why Zardari said what America wanted to hear

Posted on Oct 12, 2008

The Times of India October 12, 2008 No passport has yet been devised that can take one easily across the borderline of fear. Pakistan used to fear annihilation by India; now it fears hegemony. India used to fear invasion across the Line of Control in Kashmir; now it fears the export of terror. One nation’s freedom-fighter can, of course, be a neighbour’s terrorist. Pakistan may sincerely want peace with India, but it still...

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Western Financial Meltdown: Global Economic Power Balance Shifts Eastwards

Posted on Oct 11, 2008

Published in DAWN The IMF has warned that the world’s financial system is on the brink of meltdown. The worst global financial crisis since the 1930s is more than just an economic phenomenon. It may turn out to be the most important event since the collapse of the Soviet Union and the fall of the Berlin Wall in 1989. A unipolar world emerged following the disintegration of the Soviet Union. The year 2008 may go down in history...

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