Pakistan economic crisis

According to Indian strategic affairs specialist Sushant Sareen, Pakistan has doubled its debt roughly every five years over the last 25-year period. Starting from a debt of Rs. 3.06 trillion at the beginning of Pakistan's economic crisis was at the centre of a political standoff between Prime Minister Timeline [ ] • v • t • e 2022 [ ] Information Minister "controlling rising inflation, stabilizing foreign exchange reserves, strengthening the economy and reducing the country's dependence on imports". Import of unnecessary and luxury items was banned. Sharif had said at the time that the decision would "save the country's precious foreign exchange" and that Pakistan would have to "pursue austerity." In late May 2022, the government lifted the cap on fuel prices - a condition for advancing the long-stalled bailout deal with the Federal Minister for Planning and Development Inflation in Pakistan rose to 21.3% in June, the highest since December 2008 when inflation stood at 23.3%. Finance Minister At the end of March 2022, the The consistent depreciation of the The year 2022 saw political turmoil, economic crisis and devastating floods in Pakistan. On the economic front, the country is dealing with spine-chilling inflation, depreciating currency and dangerously low foreign reserves. 2023 [ ] In January 2023, for the first time, the CEO of Pakistan's largest bank, Habib Bank comments publicly on the prevailing economic situation. He said it could be a "big blow to the economy" ...

The 2022 year saw political turmoil, an economic crisis, and catastrophic flooding in Pakistan. On the economic front, the country has been dealing with backbreaking inflation, a depreciating currency, and precariously low foreign reserves. As Pakistan looks to address these challenges in a turbulent moment, important questions arise as to the long-term roots of these problems, how political instability shapes them, and what economic policy Pakistan should adopt to address its difficulties. On February 1, the Center for Middle East Policy at Brookings hosted an event to discuss the deep roots of Pakistan’s economic challenges and the future of its economy. Viewers submitted questions by emailing #PakistanEconomy. Khan's arrest by paramilitary forces – and the manner of the arrest, with dozens of forces in riot gear – is not about any corruption case against Khan, as was the pretext for the arrest, but should be seen in the context of his recent comments against officials in the military and intelligence services. Those comments seem to have been the military's 'red line.' Khan's popular support has protected him against the [military] establishment over the last year; but now that the establishment has asserted itself, it's hard to see it backing down, and difficult to see how the situation will deescalate. This is a very dangerous development.

Vendors sell fruit under battery-powered lights during a blackout due to a power grid failure in Lahore, Pakistan, on Jan. 23, 2023. Photo: Betsy Joles/Bloomberg via Getty Images The last year has brought Pakistan to the brink. A series of rolling disasters — including catastrophic flooding, political paralysis, exploding inflation, and a resurgent terror threat — now risk sending a key, if troubled, global player into full-blown crisis. If the worst comes to pass, as some experts warn, the catastrophe unfolding in Pakistan will have consequences far beyond its borders. “This is a country of 220 million people, with nuclear weapons and serious internal conflicts and divisions,” said Uzair Younus, the director of the Pakistan Initiative at the Atlantic Council’s South Asia Center. “The world didn’t like the outflows of refugees and weapons that came from countries like Syria and Libya. In comparison, Pakistan is magnitudes larger and more consequential.” “If the economy remains in a moribund state, and there are shortages of goods and energy leading to a political crisis on the streets of major cities, that would also allow the Pakistani Taliban and other terrorist groups to begin hitting at the government more directly,” said Younus, who is also vice president of the Asia Group, a strategic advisory firm. “We could see a significant weakening of the state and its capacity to impose order.” Join Our Newsletter Original reporting. Fearless journalism. Delivered to you. I'm i...

Security officials and rescue workers conduct an operation on Tuesday to clear the rubble and search for bodies at the site of Monday's suicide bombing in Peshawar, Pakistan. The assault on a mosque inside a major police facility was one of the deadliest attacks in Pakistan in recent years. Muhammad Zubair/AP hide caption toggle caption Muhammad Zubair/AP Security officials and rescue workers conduct an operation on Tuesday to clear the rubble and search for bodies at the site of Monday's suicide bombing in Peshawar, Pakistan. The assault on a mosque inside a major police facility was one of the deadliest attacks in Pakistan in recent years. Muhammad Zubair/AP ISLAMABAD — Sometimes the life story of a country can be seen in days. Take Pakistan. Last Monday, the country was plunged into darkness after the national power grid collapsed. By Thursday, the country had veered dangerously close to economic chaos. Then, on Monday, a suicide bomber took his place among worshipers in a mosque in the northwestern city of Peshawar, and detonated around 22 pounds of explosives, bringing down the mosque wall and killing more than 100 people, many of them buried under rubble. A nationwide power outage comes at a time of economic crisis Pakistan is often mired in troubles. But in recent months, a storm of global troubles, from the Russian invasion of Ukraine to the Taliban's takeover of Afghanistan, has exposed and exacerbated the country's political, economic and security fault lines. "P...