Pakistan’s Exodus of Officials Exposes ‘Limbo’ in Policy
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The resignation of two central bank governors and one finance minister in Pakistan since the start of 2010 has exposed a breakdown in policymaking, threatening efforts to revive growth amid surging prices and terrorism.
Shahid Kardar, who stepped down as Pakistan’s central bank governor on July 12, was the second person to quit the post in more than a year. He left two weeks before a July 30 monetary policy decision, when all 11 economists surveyed by Bloomberg News expect the State Bank of Pakistan to leave the discount rate at 14 percent.