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| India-Pakistan |
| Seven times twenty is 100 |
| 2006-06-07 |
| Shaukat Aziz’s claim that the World Bank’s promised loans/assistance for the next four years is a vote of confidence in Pakistan’s economy is a half-truth. Of course the macro-economic figures show some progress. But the reason for the World Bank’s decision has more to do with geopolitics than Mr Aziz’s shabby management of the economy The Punjabi idiom, “tagrian da sateen weeh sau hunda ey” (the hundred of the powerful is seven times twenty [instead of five times twenty]) comes to mind when I think of Shaukat Aziz & Co. A few weeks ago they were bragging about having broken free of the shackles of the World Bank and the International Monetary Fund (IMF) and now they are jubilant over the $6.5 billion promised by the World Bank under its Country Assistance Strategy (CAS). But this self-contradiction is normal for those whose hundred equals seven times twenty. There is nothing wrong with seeking soft loans (which come with low interest and long amortisation period) as long as the proceeds are used wisely and constructively. However, if Pakistan’s history is any guide, the promised funds are only going to benefit the ruling classes that have always prospered under military regimes. Thirty-three billion dollars of foreign loans on Pakistan’s books did not do much to improve Pakistan’s economy, its infrastructure, or reduce poverty. |
| Posted by:john |
| #5 Pakistan reportedly used the 1971 earthquake relief funds to kick start their nuke program. The current earthquake aid is probably being put to similar use... |
| Posted by: john 2006-06-07 16:33 |
| #4 Who actually expected government welfare to work any better than it does on individuals? |
| Posted by: Bright Pebbles 2006-06-07 16:28 |
| #3 The Punjabi idiom, “tagrian da sateen weeh sau hunda ey” (the hundred of the powerful is seven times twenty [instead of five times twenty]) comes to mind when I think of Shaukat Aziz & Co. I can dig it. |
| Posted by: Arthur Anderson 2006-06-07 15:07 |
| #2 Thirty-three billion dollars of foreign loans on PakistanÂ’s books did not do much to improve PakistanÂ’s economy, its infrastructure, or reduce poverty Exactly. Of course they are happy about the new loan - it goes into their pockets. |
| Posted by: Spot 2006-06-07 08:19 |
| #1 "Seven times twenty is 100" Yep, after the vig. |
| Posted by: flyover 2006-06-07 00:40 |