It is not implied that these actions did not make any economic sense or were not justified in Pakistan’s own economic interests but the important point to note is that all these actions had to be completed within a period of 12-15 months in order to qualify for the Stand-by-Arrangements (SBA), balance of payments support loans from ADB and World Bank and rescheduling of external debt owed to bilateral creditors.
Yet that broader representation has given the Bank a degree of legitimacy that we might otherwise have struggled to achieve in Australian society. And I can say that in the 140 or so meetings of the Board in which I have participated, the members have always carefully set aside sectional and personal interest to act in the national interest.