WASHINGTON, April 10: Finance Minister Shaukat Aziz and his senior aides will attend the World Bank’s spring meetings in Washington from Friday just as another international delegation — a far cry from the heady days of last spring when Pakistan was the centre of attraction along with Afghanistan.

The IMF’s World Economic Outlook for April 2003 has a whole chapter on “how will the war in Iraq affect global economy” and two lines on Pakistan.

“The situation in Pakistan has continued to improve, with real GDP growth, inflation remaining subdued, and the balance of payments strengthening. Efforts, however, are needed to lower the fiscal deficit,” the report says.

Brief, but nevertheless, encouraging for the Pakistani delegation which has come to Washington to seek continued economic support from the World Bank and the US.

All indications are that despite the country’s reduced importance, Pakistan still enjoys the sympathies of the World Bank and the Bush administration.

In a recent report, even the non-complimentary Washington Post acknowledged that: “Despite Pakistan’s reputation as a hotbed of Islamic radicalism, its economy is projected to grow this year at a respectable rate of 4.5 per cent.” The government growth estimate is also accepted by the World Bank, the report said.

The experts credited the government’s fiscal austerity measures, such as cuts in food subsidies imposed by the Musharraf government, for the current improvement in the Pakistani economy.—Correspondent