Debt, Growth, And Poverty in the International Monetary System (The Quaid-I-Azam Memorial Lecture‪)‬

1. INTRODUCTION It is a great pleasure for me to address this PSDE conference on "Debt, Growth, and Poverty". The subject addresses problems at the cutting edge of world economic policy. Poverty needs growth; growth needs new technology and foreign capital; and foreign borrowing increases indebtedness, which leads to the possibility of bankruptcy, collapse of growth, and an exacerbation of poverty. That it is a real threat is confirmed by the debt and financial crises of the 1980s and 1990s, which continue into the present time.