After a military takeover in 1999 Gen. Pervez Musharraf suspended Pakistan's constitution and assumed the title of chief executive. In June, he assumed the title of president and appointed an eight-member National Security Council as Pakistan's governing body. Pakistan is a poor, heavily populated country that suffers from internal political disputes, lack of foreign investment and a territorial dispute with India over the northern territory of Kashmir. Two delegations from Islamabad have been in Washington in recent days to press the Bush administration for help. They want the U.S. to forgive old loans, provide fresh aid and boost the import allotment for Pakistani textiles and garments.
Debt is Pakistan's curse.
That will get these kids out here into school and make sure everybody has enough to eat. Looking for breathing room There is real urgency in Pakistan, says Sakib Sherani, chief economist at ABN-AMRO Bank in Islamabad. In just 2 years, Musharraf has won unanimous praise among international lending agencies for keeping a tight rein on the budget, acting quickly to rid the country of top-level corruption, and halting the use of government contracts to reward favored business groups and tycoons. But the fiscal and monetary discipline have come at a steep price. With education spending and household incomes so low, most Pakistani families can't afford to send their children to school.