Here come the dollars

HERE we go again. Having succeeded in stabilising the economy and failed at reforming it, the government is not preparing to transition to high growth the old fashioned way: through borrowed dollars procured as a geopolitical rent against services rendered. A couple of things have happened. Most recently, we have the announcement that Finance Minister Muhammad Aurangzeb met the US treasury secretary and ‘asked’ for a $10 billion swap line from the Exchange Stabilisation Fund, the same fund fr...

By none@none.com (Khurram Husain)