Pakistan: The causeway for Islamic Finance-and for Islamic Terror?
- Pakistan: 1 hour, 34 minutes ago
|Goldman Sachs predicts that Pakistan could become one of the next set of global economies|
As former US-president Richard Nixon did in 1974, Musharraf avoided being taken out by parliament through impeachment with his preemptive move.
But although Pakistan is mainly seen by outsiders as a country shattered by social unrest and fighting on its border with Afghanistan, its economy has been booming in recent years.
Pakistan, with a total population of 170 million people and a GDP per capita of around $2,900, has been growing about 7% annually since 2004.
‘Superficially, Pakistan does not look that attractive for investment, but when you study the country, you see the possibilities,’ says American investment bank Goldman Sachs, which regards Pakistan (as well as Iran, Egypt, Vietnam and others as a member of the ‘Next 11’, a group of emerging markets which have the potential to become the world’s largest economies, alongside the BRIC countries).