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Pakistan has been a regular receiver of Foreign Aid since its inception. It would not be misplaced to state that Pakistan is addicted to aid! Since its inception, till FY 22-23, the commitments of foreign aid have crossed the $200 billion mark. There is no single, concise estimate of how much of that committed aid has actually been credited and disbursed. Based on the estimates from various sources, brought together and counterchecked due to their various methodologies, we estimate that at least $155 billion has been credited and disbursed/used up for various purposes (development and non-development) in Pakistan. This is besides the aid that was credited but has not been documented due to various reasons.
Please access the PIDE Monograph "Foreign Aid Donors & Consultants: Analysing the Pakistan's FA Inflow & Outcomes: pide.org.pk/re...
The important question of whether foreign aid has been helpful to Pakistan or not has remained unanswered as the available literature does not offer a clear answer, often bringing out a mixed bag, which is too general and vague. This research effort analyzes this question in light of criterion set by the influential Millikan-Rostow report on foreign aid, which are as follows-
- Transfer of resources in a manner that they don’t create future liabilities, especially long-term liabilities
- are NOT source-tied to creditor country, especially projects and services
- leads to economic development and growth in a manner that is sustainable and self-sustaining in the long-run
- raise marginal savings rate in nations receiving aid, which would lead to higher capital formation
- formation of additional capital should be complemented by a development program that helps enlarge the economy-wide capacity to absorb additional capital productively
1) Why can't Pakistan escape the IMF Loan/Debt trap.
2) What are some of the structural issues in Pakistan's economy
3) Why is Pakistan Addicted to Foreign Aid and IMF Loans? Foreign Aid: Blessing or Curse?
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