Pakistan Institute of Development Economics


Webinar on "The Autonomy for SBP: A Fresh Look at Central Bank Independence" Part IV

Date : April 05, 2021 at 03:00 PM
Moderator: Dr. Nadeem ul Haq (Vice Chancellor PIDE)
Speaker : Dr. Hamza Ali Malik, Director Macroeconomic Policy, UNESCAP, Ashraf Janjua, Former Deputy Governer at State Bank of Pakistan, Dr. Ahmed Jamal Pirzada, Assistant Professor University of Bristol, UK

In a significant move, the federal cabinet approved amendments in the State Bank of Pakistan (SBP) Act in the name of central bank autonomy, price stability and accountability. The benefit of central bank independence is well documented in the literature. However, there is a dire need to evaluate several important questions like Why is autonomy so important? Should every institution be autonomous?, Is Pakistan is prepared for the complete autonomy of the central bank?, Can only SBP manage inflation given the constraints of the supply side and governance?, What will be the implications for economic growth?, What will be the implications for financial stability?, How will the institution be accountable?