Quotes by Agost Benard

“In a rapidly evolving environment such as that which we are facing in the global energy markets, the inability to craft and implement appropriate policy measures leaves fiscal and external balances exposed. This could ultimately threaten to undo the macroeconomic stability achieved in recent years.”

“If you look at the state of the value-added-tax, it has been subject to a lot of delays and setbacks, so we wont know if it will be implemented until it happens,”

“Local and provincial governance needs to be improved. There will have to be hard budget constraints.”

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

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

“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.”

“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.”

“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.”

“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.”

“The stable outlook reflects revised expectations concerning the prospects of policy continuity and adherence to fiscal consolidation, which foreshadows improved chances for overall deficit reduction and stabilization of the countrys debt dynamics.”