Security and Economic Gains Awaken Investor Interest
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#PakistanTheWorldfolio Our World #TheWorldfolio Thursday, October 22, 2015 artnership w n p ith partnership w I In ith E mbassy of Pakistan in the United States PAKISTAN Board of Investment This supplement to USA TODAY was produced by United World Ltd., Suite 179, 34 Buckingham Palace Road, London SW1W 0RH – Tel: +44 (0)20 7305 5678 – [email protected] – www.unitedworld-usa.com Security and economic gains Internationalawaken rating agencies praiseinvestor Pakistan over progress interest made on the security front, while the country experiences increased political stability and is poised to be the world’s next economic turnaround story. In spite of these advances, Pakistan is still believed to be a country in turmoil, which is far from the realities on the ground pon an invita- “The global threat of tion from Pres- terrorism cannot be ident Barack defeated unless we Obama, Prime address its underlying Minister of Pa- causes. Poverty and kistan Nawaz Sharif is ignorance are part of in Washington today for the problem. Extremist U ideologies must a meeting at the White House, and he is set to be opposed” bring good news. First and foremost, Mr. Sharif will NawaZ SHARIF, tell of an encouraging re- Prime Minister of Pakistan cord on security that will be received here with a sense of relief. Indeed, his nation As credit rating agen- of 180 million is situated in cies are upping Pakistan’s one of the most volatile re- ratings – in June, Moody’s gions on the planet, tucked upgraded its sovereign next to Iran and Afghani- credit ratings for the first stan – with which it shares time since 2008 and in a long border – in the west, September, Fitch assigned China to the north and In- it a B credit rating with a dia to the east. stable outlook – foreign After Mr. Sharif accepted investors are starting to his White House invitation see potential in this strate- in August, U.S. National Se- gic Asian country. curity Adviser, Susan Rice, As in most parts of the commended the Prime developing world, China Minister for supporting re- is leading and has pledged cent talks between the Af- Pakistan Prime Minister Nawaz Sharif talks with U.S. President Barack Obama at the Nuclear Security Summit in March 2014 to invest about $46 billion ghan government and the in infrastructure projects, Taliban, and urged Paki- in fighting Islamist extrem- show that major terrorist “Pakistan’s three- healthy pace and reached nearly equal to the amount stan to intensify its efforts ism. The Pakistani army has attacks have declined by year IMF-supported $13.5 billion at the end of foreign aid the U.S. has to counter terrorist sanc- been combating the domes- 70% since last year. This program has produced of June 2015, covering provided to Pakistan over tuaries inside its borders in tic front of the Taliban and significantly improved se- significant achievements three months of imports,” the past decade to support order to promote regional its allies in the north of the curity environment com- in reducing near-term said the IMF. its war in Afghanistan, peace and stability. country, along the border bined with the economic risks, improving the “Pakistan’s three-year according to Bloomberg. Ms. Rice’s comments with Afghanistan. policies of Mr. Sharif’s fiscal balance, and IMF-supported program Fitch also noted that “the were echoed by a U.S. of- “We will fight terrorism government are bearing strengthening the foreign has produced significant China-Pakistan Economic ficial, whom the New York in all its forms and mani- fruit. For the first time in exchange reserves of the achievements in reducing Corridor initiative an- Times quoted as saying, festations, irrespective of years, hope is palpable for State Bank of Pakistan” near-term risks, improv- nounced in April could “Addressing this challenge who their sponsors are,” Pakistani entrepreneurs ing the fiscal balance, and significantly strengthen will be imperative for Paki- Mr. Sharif said recently in and the general popula- HARALD FINGER, strengthening the foreign Pakistan’s economy.” stan’s relations with its his address at the 70th ses- tion, a quarter of which IMF Mission Chief for Pakistan exchange reserves of the Western investors have neighbors and with Wash- sion of the UN General As- live below the poverty line. State Bank of Pakistan,” also shown interest, as re- ington, especially given the sembly. “The global threat And international institu- added the IMF’s Mission flected by major interna- recent upsurge in violence of terrorism cannot be de- tions as well as investors for next year. This perfor- Chief for Pakistan, Harald tional business media such in Kabul and the Taliban’s feated unless we address its are taking note. mance is “helped by macro- Finger. as The Wall Street Journal bloody campaign this fight- underlying causes. Poverty In August, the Inter- economic stability, low oil The World Bank, for its (“Pakistan’s pleasant sur- ing season in Afghanistan.” and ignorance are part of national Monetary Fund prices, planned improve- part, said, “Pakistan’s eco- prise”) and The Economist The office of Mr. Sharif the problem. Extremist ide- (IMF), which extended a ments in the domestic nomic growth is showing (“Pakistan is enjoying a rare hailed Ms. Rice’s visit to ologies must be opposed.” $6.2 billion loan, praised energy supply, and invest- signs of sustained recovery. period of optimism about Pakistan and stressed the Pakistan’s efforts to com- the 4.1% growth in gross ment related to the China- Supported by a favorable its economy”). importance of cooperation bat terrorism are paying domestic product this year, Pakistan Economic Cor- slump in international oil As the London-based chief between the two countries off: government statistics projecting 4.5% growth ridor. Inflation dropped prices and stellar imple- economist at Renaissance to 1.8% in July. Despite de- mentation of the IMF re- Capital, Charlie Robertson, clining exports, the exter- form program, growth re- told Bloomberg News in A UNITED WORLD SUPPLEMENT PRODUCED BY: nal current account deficit covery remains underway, June, Pakistan “is the best, Paulina Gallardo, Country Director, Miguel Caso, Editorial Director, Lucia Flematti, Proj- narrowed to 0.8% of GDP. with projected GDP growth undiscovered investment ect Assistant, Leandro Cabanillas, Regional Director, Fatima Ruiz Moreno, Regional Director Foreign exchange reserves now at 4.3-4.6%,” it reported opportunity in emerging or continued to increase at a in September. frontier markets.” 2 Thursday, October 22, 2015 Distributed by USA TODAY PAKISTAN Op-Ed: U.S. and Pakistan in a “long term and mutually beneficial partnership” With the two countries joining forces to combat violent extremism, ensure regional stability, and develop economic integration, relations are stronger than ever, writes Jalil Abbas Jilani, Pakistan’s Ambassador to the U.S. RUSSIA s the arc of in- stability extends its tentacles from Africa to the Middle East, KAZAKHSTAN with shadowy forces like MONGOLIA AIslamic State of Iraq and the Levant (ISIL) seeking UZBEKISTAN KYRGYZTAN to expand influence on TURKMENISTAN the fringes of South Asia, President Obama’s call for forging counter-terrorism IRAN AFGHANISTAN CHINA partnership from Sahel to South Asia must be KUWAIT Jalil Abbas Jilani, Ambasasador of Pakistan to the U.S. NEPAL viewed as a timely initia- PAKISTAN BHUTAN tive geared to stemming QATAR this emerging exponent of divisible for the country Thanks to the wide UAE BANGLADESH violent extremism. and that progress on one ranging economic SAUDI OMAN MYANMAR ARABIA INDIA LAOS Pakistan, the largest objective could not wait at reforms introduced by the government, Pakistan’s democratic Muslim state the cost of the other. The YEMEN THAILAND in South Asia, is joining government’s response to economy is showing CAMBODIA hands with the United terrorism and militants positive signs of recovery. States and other civilized challenging the writ of the Resultantly, inflation has VIETNAM PHILIPPINES reached its lowest in SRI nations of the world in our State was the comprehen- LANKA enduring struggle against sive military operation, several years and foreign- extremism. Pakistan and Zarb-e-Azb. It stands out exchange reserves of the the United States have suc- as a critically important country have more than cessfully collaborated in national endeavor that has doubled, touching their the past to extinguish the enjoyed unflinching sup- highest level ever (over core of the terrorist group port of all the major po- $18.6 billion). A map which shows the route of the China-Pakistan Economic Corridor compared with maritime trade route known as Al-Qaeda from litical parties and has been the region, and indeed fully owned and blessed Pakistan has credentials to by the people of Pakistan. stan’s economy is showing at advanced stages lend us Eighteen months down corporate culture is en- offer its support to the in- Eighteen months down the positive signs of recov- the confidence that Paki- the road, Zarb-e-Azb is trenched in the principles ternational community for road, Zarb-e-Azb is the ery. Resultantly, inflation stan’s energy crisis will the greatest success story of free market economy. this monumental task once greatest success story of has reached its lowest in be largely contained by of not only Pakistan’s It is this democratic and again. After all, Pakistan not only Pakistan’s coun- several years and foreign- end of 2017. counter-terrorism stable Pakistan that offers has been both a frontline ter-terrorism history but exchange reserves of the Pakistan’s growing en- history but has also the best chance of part- state and itself the greatest has also been acknowl- country have more than gagement with the World been acknowledged nering with the United victim of terrorism.