What we would look for is a gradual phasing out of the fuel subsidy and a more effective and coordinated policy response from the government and monetary authorities as and when shocks arise. Shocks such as high oil prices, a classic case of external shock, caught the government by surprise.

Agost Benard

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The government will respond in a more prompt and appropriate way. They will be in a better position to handle whatever shock may come their way.

— Agost Benard

Sharp declines in the government?s external debt indicators and structural improvements that, over time, should help Pakistan?s export capacity motivated the change in outlook for the foreign currency rating.

— Agost Benard

We have yet to see how the law is going to be implemented, how much revenues would it generate and how these additional collections would be spent.

— Agost Benard

have tended to be slow, reactive, and incremental over the past year.

— Agost Benard

The fact that the suspension is lifted is obviously very positive news.

— Agost Benard