Appointment of non-European leader of Catholic Church appreciated
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Int’l lenders, Pakistan should learn lesson from Vatican
The Pakistan Economy Watch (PEW) on Friday lauded Vatican for electing a non-European Pope that indicates a major and welcoming shift in thinking of the Catholic Church.
By electing Pope Francis from Argentina, a South American country of around 40 million population, the Vatican has introduced a very positive and healthy trend which has added to its prestige, said Dr. Murtaza Mughal, President PEW.
He said that the development indicates that merit was preferred over nationality which will add to credibility and effectiveness of Vatican.
Dr. Murtaza Mughal said that time has come for the west to recognise the fact that it no longer dominates global politics and economics. It should start selecting chiefs of IMF, World Bank etc. from other parts of the world.
In fact, west has triggered many global crises in recent years which has increased the plight of poor across the globe while adding to the wealth of billionaires.
While Europe is going down, many Asian economies are performing well to become global leaders which calls for selection of Asians to lead important international institutions, he said.
The credibility and effectiveness of international lenders has been put to question as they force developing world for harsh reforms while shying away to slap strict conditions on European economics which is resulting in one crises after another.
Many think that double standards and preferring nationality over merit in selecting managing director has transformed IMF into an institution which has become a threat to the global economy.
Four BRIC countries — Brazil, Russia, India, and China contributed around $2.2 trillion to the global GDP in 2012. The eight growth market economies, four BRIC nations and South Korea, Indonesia, Turkey and Mexico created some $3 trillion in 2011, around 25 per cent of global GDP; they would add $1.5 trillion more to global GDP in 2013 which proves the rise of Asia.
Dr. Murtaza Mughal said that laudable decision of the Catholic Church should act as a wakeup call for our policy makers to focus of election reforms and prefer underdeveloped areas as well as patriot minorities for important offices.
