Pakistan is on the verge of declaring bankruptcy.

 

Pakistan’s inflation rate has now reached 13.37 percent, ranking second in Asia only to Sri Lanka, which recently declared bankruptcy and is currently embroiled in political turmoil. 

Pakistan appears to be on the verge of declaring bankruptcy after failing to secure financial aid from its allies and the International Monetary Fund, and with loan repayments looming.

While the incumbent government is afraid of losing popularity by implementing inflationary policy measures, Pakistan’s economy appears to have no other choice. Furthermore, former Prime Minister Imran Khan, who was deposed on the basis of similar opposition claims, has threatened nationwide protests against soaring inflation and other policy measures implemented by a “imported government.”

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