Pakistan - Interim poverty reduction strategy paper and and joint assessment
Bokros, Lajos | Fleming, Alexander | Votava, Cari [editors]
The Interim Poverty Reduction Strategy Paper (I-PRSP) reflects strategy papers prepared by the government in office since October 1999 and reforms implemented since then. In a few areas, notably governance, devolution, banking sector reforms, the I-PRSP does not fully reflect the scope and depth of reforms already underway; some sector strategies still need more articulation, and some policy slippages are not sufficiently highlighted. All this notwithstanding, the I-PRSP does convey the thrust, range, and complexity of the program in which Pakistan has embarked, and the solid track record it has built in the short period of two years. This document goes much further than the requirements for an I-PRSP, provides a sound basis for a full PRSP as well as a credible rationale for the Fund and the Bank concessional assistance programs. The paper presents a candid, and analytical assessment of the challenges Pakistan faces: extracting itself from a debt trap, accelerating growth, improving social indicators abnormally low for a country at Pakistan's level of income and restoring the credibility and and integrity of public institutions. The policy framework presented in the I-PRSP is a sound one, though a number of areas will require strengthening in a full PRSP. While post-September 11 developments have brought Pakistan new challenges, new opportunities, and new risks, do not fundamentally alter the country's economic and social priorities.
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