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UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNIKOM, UNITAR, UNMIBH, UNMOP, UNOMIG, UNOMIL, UNOMSIL, UNPREDEP, UPU, WCL, WFTU, WHO, WIPO, WMO, WToO, WTrO Diplomatic representation in the US: chief of mission: Ambassador Riaz Hussain KHOKHAR chancery: 2315 Massachusetts Avenue NW, Washington, DC 20008 consulate(s) general: Los Angeles and New York Diplomatic representation from the US: chief of mission: Ambassador William MILAM embassy: Diplomatic Enclave, Ramna 5, Islamabad mailing address: P. O. Box 1048, Unit 62200, APO AE 09812-2200 consulate(s) general: Karachi consulate(s): Lahore, Peshawar Flag description: green with a vertical white band (symbolizing the role of religious minorities) on the hoist side; a large white crescent and star are centered in the green field; the crescent, star, and color green are traditional symbols of Islam Economy Economy--overview: Pakistan continues to suffer through a damaging foreign exchange crisis--stemming from years of loose fiscal policies that have exacerbated inflation and allowed public debt to explode. After accruing more than $1.5 billion in debt arrears in the first six months of FY98/99, Pakistani officials approached multilateral creditors requesting balance-of-payments relief and structural support. In January 1999, Islamabad received more than $1 billion in loans along with $3 billion in debt relief following the Finance Minister DAR's pledge to implement an economic reform program to reduce the budget deficit, deepen the financial sector, and broaden the industrial base. Although the economy has shown signs of improvement following implementation of some corrective measures, Prime Minister SHARIF--historically--has failed to implement the tough structural reforms necessary for sustained, longer-term growth. The government must also cope with long-standing economic vulnerabilities--inadequate infrastructure and low levels of literacy. GDP: purchasing power parity--$270 billion (1998 est.) GDP--real growth rate: 5% (1998 est.) GDP--per capita: purchasing power parity?$2,000 (1998 est.) GDP--composition by sector: agriculture: 24.2% industry: 26.4% services: 49.4% (1997) Population below poverty line: 34% (1991 est.) Household income or consumption by percentage share: lowest 10%: 3.4% highest 10%: 25.2% (1991) Inflation rate (consumer prices): 7.8% (FY97/98) Labor force
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