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Search resuls for: "Reza Baqir"


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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailParis summit: More needs to be done for low-income countries, says Pakistan's ex-central bank chiefReza Baqir, managing director at Alvarez & Marsal and former governor of the State Bank of Pakistan, says "there will be pledges, but if history is any guide … the world will not have an adequate mechanism to monitor how those pledges convert to actual inflows for developing countries."
Persons: Reza Baqir, Alvarez Organizations: Marsal, State Bank of Locations: Paris, State Bank of Pakistan
Violent clashes between supporters of Imran Khan and police broke out across the country after Pakistan's anti-corruption agency arrested the former prime minister on Tuesday. Pakistan's rupee has lost nearly 50% over the past 12 months. JPMorgan analyst Milo Gunasinghe said little relief from political uncertainty was in sight while the IMF programme remained stalled. "It is usually up to the country to present a credible plan of policies and financing that, in the face of political uncertainty, will credibly address the members’ balance of payment problems." The armed forces remain Pakistan's most powerful institution, having ruled directly for close to half the country's 75-year history through three coups.
Global bodies like the IMF need to step up and improve the framework for sovereign debt financing so that emerging market economies, like Sri Lanka, can get out of their debt distress problems faster. That's according to the former governor of the State Bank of Pakistan, the country's central bank. Reza Baqir, currently the global head of sovereign advisory services at Alvarez and Marsal, pointed out that Sri Lanka is still waiting for the International Monetary Fund debt relief to help restore stability as the country grapples with dire economic conditions. Sri Lanka "stopped paying its creditors in spring of last year and it's been close to nine months, and we are still waiting for a meeting of the IMF board," noted Baqir. "We need a more proactive response from the international financial community."
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOutlook for emerging markets deteriorated sharply over the past 2 years, consultancy saysReza Baqir of Alvarez and Marsal, formerly governor of Pakistan's central bank, says that's because of the "rapid rise in public debt."
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