CA, SAARC,
SACEP, SCO (observer), UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNITAR,
UNMIL, UNMIS, UNOCI, UNOMIG, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO,
WMO, WTO

Diplomatic representation in the US:
chief of mission: Ambassador Mahmud Ali DURRANI
chancery: 3517 International Court, Washington, DC 20008
telephone: [1] (202) 243-6500
FAX: [1] (202) 686-1544
consulate(s) general: Boston, Chicago, Houston, Los Angeles, New
York, Sunnyvale (California)

Diplomatic representation from the US:
chief of mission: Ambassador Ryan CROCKER
embassy: Diplomatic Enclave, Ramna 5, Islamabad
mailing address: P. O. Box 1048, Unit 62200, APO AE 09812-2200
telephone: [92] (51) 208-0000
FAX: [92] (51) 2276427
consulate(s) general: Karachi
consulate(s): Lahore, Peshawar

Flag description:
green with a vertical white band (symbolizing the role of religious
minorities) on the hoist side; a large white crescent and star are
centered in the green field; the crescent, star, and color green are
traditional symbols of Islam

Economy Pakistan

Economy - overview:
Pakistan, an impoverished and underdeveloped country, has suffered
from decades of internal political disputes, low levels of foreign
investment, and a costly, ongoing confrontation with neighboring
India. However, IMF-approved government policies, bolstered by
generous foreign assistance and renewed access to global markets
since 2001, have generated solid macroeconomic recovery the last
five years. The government has made substantial macroeconomic
reforms since 2000, most notably privatizing the banking sector.
Poverty levels have decreased by 10 percent since 2001, and
Islamabad has steadily raised development spending in recent years,
including a 52-percent real increase in the budget allocation for
development in fiscal year 2007, a necessary step toward reversing
the broad underdevelopment of its social sector. The fiscal deficit
- the result of chronically low tax collection and increased
spending, including reconstruction costs from the October 2005
earthquake - appears manageable for now. GDP growth, spurred by
gains in the industrial and service sectors, remained in the 6-8%
range in 2004-06. Inflation remains the biggest threat to the
economy, jumping to more than 9% in 2005 before easing to 7.9% in
2006. The central bank is pursuing tighter monetary policy - raising
interest rates in 2006 -