'Asia Money' has described Pakistan's economy on the road to recovery mainly through untiring efforts of Finance Minister Shaukat Aziz, the choice President Pervez Musharraf made to reform the economy.
His difficult choices have paid him off, the magazine reported lauding Musharraf's economic team including Dr Ishrat Hussain, Governor State Bank of Pakistan.
Shaukat brought Pakistan back to international markets when he successfully issued Eurobonds recently. The cover story gives the whole account of economy from October 1999 to 2004.
The report also sheds light on the 'reverse' brain drain where private equity investors like EMP Capital are investing in Pakistan, a Washington-based emerging markets investment group, would start a $ 167 million private equity venture in Pakistan.
This is just confidence of investors in Pakistan after visible recovery, it added.
This recovery has also given impetus to privatisation program.
To pursue continuity of reforms the report also interviewed Muhammadmian Soomro who vowed to continue the ongoing economic policies.
The report described as remarkable the growth in stock market, improvement in foreign direct investment, hyper growth in foreign exchange reserves, banking system revival, cut in debt to GDP ratio, successful issue of Eurobonds and good performance of the economic team.
It discussed some issues pertaining to political stability and hoped that it would help improve economic conditions.
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