almost one-third of the population is living below the poverty line and unemployment and underemployment levels are also high, particularly among the urban educated youth. But, it must be realized that there is a well established empirical regularity in economic development – whenever economic growth rates are low, poverty and unemployment are high.
After a day of intense debate about the future role of the IMF in a changing world, there is the danger that this key message will get buried somewhere under the weight of discussions on distinct aspects of the Fund’s work.