Lending Institutions, Health Care, And Human Capital: Pakistan
Professor Toi Dennis
Economic growth can be challenging in so many ways especially if your country is not as big as others. Those countries that are blessed with more and able to contribute to the world’s economy in my opinion should try in any way to give back to those less fortunate. In this brief paper I would like to focus on the country of Pakistan as is has grown economically but as the result of those countries surrounding and more focused in depth on the contributions of institutions such as IMF and World Bank. The very potent and impactful lending from IMF and also World Bank has lasted through the last fifty years and Pakistan is said to have been multilaterally given up to around 28 billion dollars speaking in US dollars. “Though the resources Pakistan has profited from are many there are three essential and pivotal organizations that stand forefront of the giving, Asian Development Bank, IMF and World Bank CITATION KAl13 l 1033 (Kronstadt & Epstein, 2013)”. International Lending and Economic Development of Pakistan
The growth of the country of Pakistan has been forward positive both economically and socially but as they say money is not free. What is given is to be expected in return and that statistic cannot be any truer for Pakistan. To date upwards of 82% of Pakistan’s financial flows have been contributed to by the top three banks. To balance all of debt to income ratios Pakistan has become dependent on countries such as Britain, Germany, Japan, United States, France, Canada and worldwide associations. CITATION Jea13 l 1033 (Azam, 2013) Asian Development Bank or ADB as they are known was reported in and around the middle 1990’s to have contributed to the Aid –to-Pakistan Consortium. According to an article posted in 2014 “During the pre-consortium meeting, Pakistan’s economic achievements during the Second Plan were spoken of with a good deal of appreciation by all members of the consortium. Performance during the fourth year was specially noted, which more than made up for the slow growth during the third year due to loss in agricultural production caused by natural disasters. Although Pakistan had expected to get 500 million dollars during the fifth year, Consortium members are reported to feel that a figure of fifty or sixty million below that would be sufficient to meet Pakistan’s external requirements CITATION Fro14 l 1033 (From the past pages of dawn: 1964: Fifty years ago: Aid Club’s $450m for Pakistan, 2014)”. While Pakistan does have a long history of monetary help from global lending institutions there have been very much noteworthy relationships in the social, financial and political advancement of Pakistan. “That is to say an extraordinary number of discussions are associated with the reasonable and ideal utilization of these funds CITATION RIM73 l 1033 (Mckinnon, 1973)”.
Healthy Population and Economic Growth
The health of its’ citizens is and should be a priority of any growing country, some take it more seriously than others but one thing is for sure, without healthy people to build your infrastructure the bigger chance of failure you will run into. There are four ways used to assess the effectiveness of advancing efforts of a prosperous economy for a country: CITATION Int15 l 1033 (International Financial Institutions Back New Global Development Agenda with Stepped-Up Support, 2015)
Population – It stands as the bigger part of an economy’s labour force. When the labour of your nations population has a sound status it will and can possibly utilize its abilities to overcome, flourish and accomplish the greatest rate of production.
Production – Some part of population would be basically included in education process and attempting to create new aptitudes and capacities in the young populace of the nation.
Gross Domestic Product – The Gross Domestic Product or GDP of any nation relies on population and is a crucial in every one of these models. A countries growth rate is straightforwardly connected with these healthy developments of population.
Qualities in Abilities and Capacities – An economy with a bigger population will basically have more noteworthy assorted qualities in abilities and capacities when contrasted with the economy which have a littler population.
Pakistan has come a long way in its pursuit of economic survival but still has some ground to make up if it wants to be on the world stage. The health status of population has a direct linkage with the economic growth of any country. “The economy of any country develops and grows depending upon the efforts of the country and a healthy nation is responsible for making consistent efforts by keened towards economic development of the country (Rashid et al., 2014)”. Despite the efforts of its’ people the health care available to them has not been where it needs to be due in part of poor spending of funds by the leadership it serves under. Time will tell how Pakistan either steps up to the plate or simply lets effort and pride fade into the distance.
BIBLIOGRAPHY Azam, J.-P. (2013). The Geo-Politics of Foreign Aid and Transnational Terrorism. 13-426. Retrieved from https://ideas.repec.org/p/tse/wpaper/27445.html
From the past pages of dawn: 1964: Fifty years ago: Aid Club’s $450m for Pakistan. (2014). Retrieved from Dawn : https://www.dawn.com/news/1109481
International Financial Institutions Back New Global Development Agenda with Stepped-Up Support. (2015). Retrieved from World Bank: http://www.worldbank.org/en/news/press-release/2015/09/25/international-financial-institutions-global-development-agenda
Kronstadt, K. A., ; Epstein, S. B. (2013). Pakistan: U.S. Foreign Assistance. US: Congressional Research Service.
Mckinnon, R. (1973). Money and Capital in economic development. Washigton DC: Brookings Institution Press.