News Snapshot:
NEW DELHI: Shehbaz Sharif, Pakistan’s Prime Minister, has said that “all hell could break loose” if the country is not given debt relief in the wake of floods that have killed over 1,500 people, and caused damage estimated at over $30 billion. The warning, made in an interview to Bloomberg, led Pakistan’s sovereign bonds—instruments it uses to raise money from international investors—to plunge to record lows amidst fears that the country might default on its loans. Flagging a “yawning gap” between the country’s needs and the aid on offer, the Prime Minister said Pakistan had appealed for help from the...
