Pakistan’s political crisis will deepen its economic misery
Posted on AllSides May 13th, 2023
From The Left
The political unrest that’s engulfed Pakistan since former Prime Minister Imran Khan was arrested earlier this week will complicate efforts to secure a financial lifeline from the International Monetary Fund and exacerbate the country’s economic crisis.
Growth has stalled and inflation has soared in the South Asian country of 220 million over the past year. With Pakistan’s rupee sharply depreciating and reserves of foreign currency dwindling, the country has struggled to import essential products like food, leading to deadly stampedes at distribution centers. Fears Pakistan could default on its debt have lurked for...