SBP's Husain on economic development in South Asia

- Central Banking staff
- 29 Jul 2004

In the speech 'Economic development in South Asia and the impact of globalization' given on 11 July Dr Ishrat Husain of the State Bank of Pakistan said South Asia has made substantial progress in the last decade to integrate in the World economy but given its slow start and initial handicaps there is a need for much rapid pace for liberalising trade.

"Economic development and poverty reduction require ever expanding economic resources, which can only be generated through high economic growth. Openness is found to positively impact upon economic growth by making investment more productive and efficient and by nurturing incentives for new investment. South Asian countries faced with a high degree of poverty will benefit enormously from openness, integration in the World economy and maximizing benefits of globalization."

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Speech by Dr Ishrat Husain, Governor of the State Bank of Pakistan on the occasion of the Middle East and South Asia Conference of KPMG held in Bahrain on 11 July 2004.

Click here to read the speech "Economic development in South Asia and the impact of globalization" on the State Bank of Pakistan's web site

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