As its rentier economy collapses, Pakistan’s immediate future looks grim


Key Topics in this News Article:

News Snapshot:

Pakistan’s economy is almost on the verge of collapse. With inflation at 25 per cent, the Pakistani rupee trading in the market at 255 to the dollar and foreign exchange reserves which have sunk to about $3.5 billion, Pakistan is staring at a possible loan default. It desperately needs external funds to shore up its dwindling reserves. It has received pledges of $10 billion from foreign donors. But no one will go ahead till the IMF bailout package of $6 billion signed in 2019 goes through. The IMF has insisted on the correction of structural imbalances in the economy and...