- 30 Mar 2023 05:14
#15269915
Pakistan Facing Economic Collapse as Inflation at 47%, IMF Deal Stalls & $22BN Debt Repayment Due
PAKISTAN Facing Economic Collapse as Inflation at 47%, IMF Deal Stalls & $22BN Debt Repayment Due, Joe Blogs
Pakistan has 47% inflation and is also in trouble with the IMF. The debts are coming due, and the risk of default is becoming very likely, and they are also facing an economic collapse. Hard times are ahead!
I don't know what corrupt schemes have been going on there, funneling money to people's back pockets, no doubt, but it looks like time is up and it's time to pay the piper. Of course, the people of Pakistan will be the ones who pay with a hard time!
Of course, it's a Muslim-majority country that will resist Western economic ideas, which they will face in spades from the IMF. They've been subsidizing the poor, and they can't afford it. Combined with crippling corruption and gross mismanagement, they have reached the final consequences of their misdeeds.
Somehow I even think that the impossible price increases the poverty-stricken Pakistani citizens face are somehow the fault of the major corruption in that country.
A lot of people in "more privileged" countries (and I am referring to White English speaking and Western European) have a tendency to just discount everything going on in other Third World countries, almost as if it were in some parallel universe and doesn't really matter.
But Pakistan has a population of 231.4 million people, which is 70% as large as the U.S. population, or 9 times larger than Australia.
It's estimated that there are 1.5 million persons born in Pakistan currently living in the U.K. (England).
PAKISTAN Facing Economic Collapse as Inflation at 47%, IMF Deal Stalls & $22BN Debt Repayment Due, Joe Blogs
Pakistan has 47% inflation and is also in trouble with the IMF. The debts are coming due, and the risk of default is becoming very likely, and they are also facing an economic collapse. Hard times are ahead!
I don't know what corrupt schemes have been going on there, funneling money to people's back pockets, no doubt, but it looks like time is up and it's time to pay the piper. Of course, the people of Pakistan will be the ones who pay with a hard time!
Of course, it's a Muslim-majority country that will resist Western economic ideas, which they will face in spades from the IMF. They've been subsidizing the poor, and they can't afford it. Combined with crippling corruption and gross mismanagement, they have reached the final consequences of their misdeeds.
Somehow I even think that the impossible price increases the poverty-stricken Pakistani citizens face are somehow the fault of the major corruption in that country.
A lot of people in "more privileged" countries (and I am referring to White English speaking and Western European) have a tendency to just discount everything going on in other Third World countries, almost as if it were in some parallel universe and doesn't really matter.
But Pakistan has a population of 231.4 million people, which is 70% as large as the U.S. population, or 9 times larger than Australia.
It's estimated that there are 1.5 million persons born in Pakistan currently living in the U.K. (England).