Democracy brings economic stability, affirms US official

Elizabeth Horst, a senior US official who oversees Pakistan affairs at the US State Department, has underscored the vital link between democracy and economic stability, adding that a government aligned with the will of its people was better suited to implement economic reforms. Addressing the Second Annual Pakistan Conference at the Atlantic Council in Washington this week, she emphasised that such alignment stands as a pillar of stability, drawing in international investments. Ms Horst, a deputy assistant secretary at the department’s South Asian bureau, acknowledged that Pakistan was facing “unparalleled economic challenges” but praised the government for undertaking ambitious reforms to improve the economy. “The United States supports all structural reforms that the government has undertaken because we believe this will place Pakistan on a trajectory for sustainable, long-term economic growth that will support its young and ambitious population,” she affirmed. Michael Kugelman, a specialist in South Asian affairs at Washington’s Wilson Centre, cautioned against any delays in the upcoming February elections, warning that such delays could further weaken an already fragile economy.