Pakistonomy

In this episode, Uzair talks to Marcello Estevão, who is the Global Director of the World Bank Group’s Macroeconomics, Trade and Investment Global Practice (MTI). Marcello shares his perspective about the global economic outlook, why inflation is here to stay for a while, and what countries like Pakistan can do to navigate this tricky period. Marcello leads a large team of country economists, macroeconomists, and fiscal policy, debt, and macro-modeling experts. He is responsible for overseeing the delivery of the global analytical work on macroeconomics, fiscal policy, and debt policy; for coordinating the strategic direction of MTI and implementing it; for helping to shape and oversee MTI’s country/regional programs; and for mobilizing staff to work more effectively across Equitable Growth, Finance and Institutions (EFI) and other Global Practices. Reading Recommendations: - A River Runs Through It by Norman Maclean - The Old Man and the Sea by Ernest Hemingway - The General Theory of Employment, Interest, and Money by John Maynard Keynes Chapters: 0:00 Introduction 1:30 Where is the global economy today? 10:40 How do emerging markets navigate this? 16:40 Dealing with dollar debt 21:40 Will inflation come down soon? 27:05 Countries that have done well

The brutal murder of Arshad Sharif in Kenya has once again raised questins about free expression in Pakistan. While the details about the murder still remain murky, it is important to talk about how the state and its institutions exert influence over expression, particularly in the digital media domain. In this episode, Uzair talks to Ramsha Jahangir about digital media freedoms in Pakistan. Ramsha Jahangir is an award-winning journalist and an Erasmus Mundus scholar. Ramsha has extensively reported on the intersection of technology and human rights in Pakistan, focusing on disinformation, internet regulation, and digital politics. She is currently working at Global Network Initiative (GNI) as a senior policy and communications associate. She tweets @ramshajahangir. Reading Recommendations: - The People Vs Tech: How the Internet is Killing Democracy (and how We Save It) by Jamie Bartlett - The Death of the Gods: The New Global Power Grab by Carl Miller Chapters: 0:00 Introduction 3:30 Ways to curb free expression 10:20 Where do things go from here? 16:20 Why are journalists on the periphery ignored? 19:50 How different is Pakistan? 25:10 What are better models in terms of policy? 33:10 Policy and investment in tech 38:00 Should we be hopeful? 42:40 Reading recommendations

The recent comments by US President Joe Biden set off a short-lived firestorm in Pakistan, while also bringing front and center Pakistan's nuclear program and the safety of its weapons. In this episode, Uzair talks to Dr. Christopher Clary about Pakistan's nuclear weapons and their safety, discussing what the risks are and how Pakistan has invested in securing its nuclear weapons. Dr. Christopher Clary is an Assistant Professor of Political Science University at Albany. His research focuses on the sources of cooperation in interstate rivalries, the causes and consequences of nuclear proliferation, U.S. defense policy, and the politics of South Asia. Reading Recommendations: - Eating Grass by Feroz H. Khan - Pakistan’s Pathway to the Bomb by Mansoor Ahmed - The Limits of Safety by Scott Sagan Chapters: 0:00 Introduction 2:10 Remarks by Biden 5:40 Recent developments around nukes 10:10 Political instability and nuclear safety 15:00 AQ Khan’s role 23:20 Changes after AQ Khan 33:30 Are there any concerns? 39:30 Is Pakistan too big to fail? 45:00 Impact of Biden’s statement on US-Pakistan relations 49:30 Reading recommendations

Iran has been rocked by protests, which are currently in their fourth week. Nearly 200 people have died and thousands injured. Sparked by the brutal killing of Mahsa Amini, these protests are a sign that all is not well in the country. In this episode, Uzair talks to Dr. Neda Bolourchi about what is going on in Iran and the path forward for the country. Dr. Neda Balourchi is Associate Director and Post Doctoral Associate, Middle Eastern Studies Program at Rutgers University. Her research focuses on the roles of religion, race, and secularism in the formation of Middle Eastern nation-states. Reading Recommendations: - Khomeinism: Essays on the Islamic Republic by Ervand Abrahamian - Female Religious Authority in Shi'i Islam: Past and Present by Mirjam Kunkler - Staging a Revolution: The Art of Persuasion in the Islamic Republic of Iran by Peter Chelkowski Chapters: 0:00 Introduction 2:20 What’s going on in Iran? 8:00 Underlying factors behind the protests 15:30 Why are younger Iranians angry? 25:00 Is the regime looking inwards? 29:00 Violence in Iranian Balochistan 37:30 International response 47:10 Should the international community do more? 54:30 What comes next? 1:00:23 Reading recommendations 1:07:20 Conclusion

We are back after a brief hiatus and in this episode, Uzair talks to Khurram Husain about the return of Ishaq Dar, who is already making headlines and "shouting down the dollar." We talk about what Dar's return means, the recent FX scandal casting a dark shadow over banks, and whether any political party has a serious plan to deal with the ongoing economic crisis. Khurram Husain is a business and economy journalist who most recently served as editor of Profit Magazine. Chapters: 0:00 Introduction 1:20 What does Dar’s return mean? 22:40 Restructuring Chinese debt 33:30 Does the PTI have a plan? 40:20 Energy security strategy 43:40 The banks’ FX scandal 51:00 Why is the rupee appreciating? 59:20 Media’s love for Dar 1:02:00 Conclusion

Over 33 million people have been affected in the 2022 floods in Pakistan. The total estimated financial cost of damages and reconstruction is estimated to be over $16 billion, and this figure is going to rise in the coming days. In this episode, Uzair talks to Dr. Maira Hayat about this catastrophe, the need for solidarity among Global South countries, and the governance challenges that exist within Pakistan. Dr Maira Hayat is an assistant professor at the University of Notre Dame. This year she's a member of the institute for advanced study at Princeton. She did her PhD in Anthropology at the University of Chicago, and a BSc. at LUMS in 2008. Dr. Hayat conducts research at the intersection of bureaucracy, law, and the environment, drawing on ethnographic and archival methods. Her current book project is based on her doctoral dissertation, “Ecologies of Water Governance in Pakistan: The Colony, the Corporation and the Contemporary,” which won the 2019 S.S. Pirzada Annual Dissertation Prize for best dissertation on Pakistan. Reading recommendations: - Refashioning futures by David Scott - Anthropology & the Colonial Encounter by Talal Asad Chapters: 0:00 Introduction 3:30 Key events related to floods 14:00 Building global coalitions 20:40 Regional collaboration on climate change 28:00 What needs to change? 50:30 Governance v. climate change 57:30 Lack of capacity in Pakistan 1:04:40 Dual standards in international views 1:15:30 Reading recommendation

The speculative bubble around crypto and Web3 has popped, but the innovation in this sector continues. In this episode, Uzair talks to Arsalan Khan about the ongoing innovation in the sector, touching on what excites him, the state of technical talent in Pakistan, and what other jurisdictions are doing. Arsalan had been in conventional finance for over 12 years working as a stock broker in Pakistan. He has been involved in crypto since 2017 and switched to web3 since mid 2021. He is currently working as a Research Analyst for Zignaly which is a social investment platform in the crypto space. Reading recommendations: - The Infinite Machine by Camila Russo - Blockchain Wars by Evan McFarland - DeFi and the Future of Finance by Ashwin Ramachandran, Campbell Harvey, and Joey Santoro Chapters: 0:00 Introduction 1:30 What does Zignaly do? 8:30 State of the crypto ecosystem today 26:00 Digital art and NFTs 30:50 Web3 talent in Pakistan 36:20 Innovative jurisdictions in the world 39:20 Portugal’s approach to new sectors 42:40 Rule of law and innovation 46:00 Reading recommendations

Pakistan is underwater and its largest province in terms of land mass has been the hardest hit. In this episode, Uzair talks to Saad Dehwar Baloch about the current situation in the province, ongoing relief efforts, and the crisis of governance there. If you'd like to donate to flood relief in Pakistan, please consider the following organizations: https://www.facebook.com/wangorg/?ti=as https://images.dawn.com/news/1190723/help-people-affected-by-the-balochistan-floods-through-these-7-relief-organisations Sindh Education Alliance Baloch Youth Against Corona Saad Dehwar Baloch is a socio political activist hails from Quetta. He has a masters in International Relations from Iqra University Islamabad and his core interests are politics and governance. He has been engaged with numerous organizations since 2011 working on advocacy, pluralism, human rights, peace, education, and democracy plus former fellow with Swedish Institute, Pildat, Kettering Foundation. Chapters: 0:00 Introduction 2:45 Current situation with the flooding 14:10 Ongoing relief work 20:30 Organizations that you can donate to 23:40 Political situation in Balochistan Reading Recommendations: - Musa se Marx Tak by Sibt-e- Hassan - Mazi kay Mazar by Sibt-e-Hassan - Tareekh aur Siyasat by Dr. Mubarak Ali

In this Urdu discussion, Uzair talks to Dr. Sajid Amin Javed about why the Pakistani rupee has been so volatile, the structural drivers of this weakness, and whether he believes the issues at hand go beyond the scope of economics. Dr. Javed is Deputy Executive Director at the Sustainable Development Policy Institute (SDPI) Pakistan. Prior to joining to SPDI, he was Senior Research Fellow and Assistant Professor at Department of Economics, Pakistan Institute of Development Economics (PIDE). Chapters: 0:00 Introduction 1:45 What caused the sudden devaluation? 14:00 Impact of Afghanistan trade and stopping imports 25:20 Has anything changed structurally? 30:10 Impact of petrol subsidy 37:20 Impact of fiscal deficits on currency value 51:20 Are these economic policy issues? 1:05:00 Conclusion

Small businesses are the backbone of any economy. When they thrive, the economy grows, opportunity and jobs are created, and a culture of bottom-up innovation takes hold. In Pakistan, MSMEs face a tough time getting access to growth capital. Karandaaz Capital is changing this and this episode dives deep into how this change is happening. Uzair talks to Navid Goraya, who is Chief Investment Officer at Karandaaz Capital. He has over 25 years of global experience in asset management, investment strategy, product development and corporate finance. Before joining Karandaaz as the CIO, he was leading a Strategic Advisory Firm, White Oak Advisors Inc, in New York where he was involved in serving private equity funds, family offices, banks and insurance companies in support of global investments in the US, Middle East, South East Asia and South Asia. Reading recommendations: - People, Power, and Profits: Progressive Capitalism for an Age of Discontent by Joseph Stiglitz - How to Avoid a Climate Disaster: The Solutions We Have and the Breakthroughs We Need by Bill Gates