Wednesday, August 17, 2005

The Money Pit

OK, today Paul Wolfowitz said Pakistan was to get more money DESPITE the corruption that is well known. It is so easy to spend money that is not yours isn't it? You may recall Paul Wolfowitz was the guy who pushed the Iraq war. He also said that the Iraq oil revenue would pay for reconstructing Iraq. He said a lot of things and they were all wrong. Then he got promoted to President of the World Bank.

Anyway, here's a link to this IRNA (Islamic Republic News Agency - Iran) website homepage. You may want to book that homepage. Don't know much about this IRNA but plan to keep an eye on it. Maybe it will be the PR dept. when Iran declares war, with its axis of Islamic states, on the world.

The story on IRNA is at "World Bank to support Pakistan for sustainable economic growth" posted on IRNA and below is most of it in extract:

[begin extract]

Addressing a news conference at the conclusion of his three day visit of Islamabad on Wednesday, Mr Wolfowitz termed the country's economy as moving forward on the right path and said that this trend must be continued with a special focus on the development of poor people.

The bank's chief said that it has decided to increase lending for Pakistan up to fifty percent and the Bank will provide 1.5 billion dollars assistance each year during the next three years.

"The World Bank is appreciative of Pakistan's economic gains and it is very much interested to sustain this growth which is very important for the poor people of the country."
To a question, Mr. Wolfowitz said the bank has expertise in water sector and would extend all possible assistance to the Pakistan government in developing water and power projects.

He made it clear that WB would provide assistance to Pakistan for the overall development of water sector and it is prerogative of the Pakistan government to execute any project on its own.

To a question, regarding Baghliar Dam issue, he said the World Bank has appointed neutral experts who will come up with his judgment according to Indus basin treaty.

He, however, emphasized the need for improving Pak-India ties and resolution of all issues between the two countries for sustainable peace in the region and economic development and prosperity of huge population of South Asia.

To another question, he said corruption is the major challenge with the whole world including developed countries and the whole world is responsible to take collective measures to curb it down.

He said the bank can play the role of a facilitator to National Accountability Bureau (NAB) to speed up the process for combating corruption in Pakistan.

He said that the education is the major area in which the bank is assisting Pakistan adding that it would be ready for more funding for the human resource development in the country.

The reform program in Pakistan has seen this country of over 150 million people turn around a deteriorating macroeconomic situation to one showing rapid improvements.

In 2004/05 the country's GDP (gross domestic product) grew by more than eight percent. Public debt has fallen to about 60 percent of GDP from almost 90 percent in 2000/2001.

The main focus of the bank's work in support of Pakistan's reform agenda is to promote sustained growth through improved competitiveness and governance and to ensure that poor people, particularly vulnerable groups like women, have access to social services and opportunities to improve their lives.

In Pakistan today, only about half of the 20 million children, aged between five and nine years, go to school.

Illiteracy is high - half the adult population cannot read or write.

In all, two thirds of Pakistani women are illiterate.

Pakistan is the World Bank's fifth-largest borrower.

[end extract]

I call it a money pit. How about you? We keep giving away our money to the Islamists. Who'd a thunk it!

Also, check out the World Bank website. I bookmarked it and plan to check it out later.

There's a photo of Wolfowitz meeting Justice (retd) Khalilur Rehman, Chancellor of Islamic International University. Wonder if he shook a kafir's hand, they're so dirty, you know.

It's the last photo at the bottom of this link to a photo gallery of Wolfowitz's visit to Pakistan.


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