Pakistan’s Moral-Hazard Economy
Foreign donors must insist that Pakistan reform its economy in order to escape the moral hazard implied by continued dependence on aid flows. But that outcome is much more likely if democracy flourishes throughout the country.
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LAHORE – Hillary Clinton’s just-concluded visit to Islamabad – for the second session of the strategic dialogue that she and her Pakistani counterpart, Shah Mehmood Qureshi, launched in Washington earlier this year – brought some comfort to her hosts. The United States promised to provide $500 million of funding for several “highly visible” projects in Pakistan. This was to be part of the $1.5 billion allocated to Pakistan in legislation signed by President Barack Obama last year.