BY now it has become almost tedious to read the same assessment from every global credit rating agency and lender — Pakistan’s economy has stabilised, but risks remain. Moody’s commentary on the country’s economy accompanying its latest upgrade is simply a repetition of this review dressed up in a new number. And that tedium is itself the story: an economy that keeps producing the same verdict year after year is hardly holding steady; in fact, it is stuck. Macroeconomic indicators may not be falling, but nothing underneath them is moving either. Standing still while the rest of the world advances is........

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