Recognizing the urgency of strengthening governance systems in the face of rising inequalities and social fragmentation, the upcoming Pathways to Development Conference 2024 is issuing a Call for Papers for work on governance and inclusion in economics, sociology, politics and political economy.
Mass forced evictions are also often linked to climate and environmental harms. In Lahore, the state has forcibly acquired tens of thousands of acres of farmland and replaced it with concrete structures, which exacerbate soil erosion and flooding, and magnify extreme heat. In 2020, after torrential rains caused widespread urban flooding in Karachi, municipal authorities blamed informal settlements for blocking stormwater channels, and demolished thousands of homes ostensibly to prevent future
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Pakistan’s recent economic history shows why it has been so difficult to service the external debt and why this will continue to be a challenge in the future. First, external debt has not been used to expand public investment for many years now; instead, it has largely supported government consumption. Second, the ability to service the debt has been weakened by poor export performance. And while maintaining external balance has been helped by the growth of remittances, this very growth has also generated pressure on the exchange rate to appreciate, thereby undermining the incentive to export. Third, the pro-consumption bias of the external debt has been exacerbated by the increasing reliance on quick-disbursing funds provided by international financial institutions to promote policy reforms and rebuild international reserves. Fourth, debt terms have been deteriorating for a while as interest rates applicable to Pakistan have risen.