Economic Crisis In Pakistan
Economic crisis in Pakistan is now all time high in its history. There is high risk of Pakistan’s economy to get default, inflation rate to rise by 41% from next week, petrol selling at PKR 249.50/liter, utility stores stocked out all the cheap grocery items, State Bank running out of dollars to pay for the essential imports. Which is a huge red flag for a country which is not independent in producing any basic need product on its own. Following the tradition, current government have found the only way to come out of this financial crisis is to again redeem a bailout package from IMF. When the country already holding the debt of staggering 274 billion USD, which makes about 97% of country’s total GDP. As I mentioned in my previous blog that Japan holds the debt of about 140% of its GDP. Then the question is why Japan is not facing the same situation as of Pakistan? Well, the answer is simple as I’ve discussed few aspects of Japan’s strategy of how they deal with their debts alrea