Making Pakistan’s Economic Recovery Sustainable
2023 began on a dismal note for Pakistan’s economy, as foreign exchange reserves were fast-depleting, remittances and exports were declining, the rupee was depreciating, industrial production was decreasing, and inflation surged – resulting from a confluence of multiple internal and external factors. In the months leading up to June, newspaper and media headlines continued to warn that the country’s economic crisis could soon morph into a sovereign default without a bailout loan from the International Monetary Fund (IMF).
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