Since 1950, Pakistan has turned to the IMF at least 23 times for funding. Since formal channels like money transfer agencies and banks took a hefty cut, people turned to the underground market of the Hawala network in order to initiate transfers. The situation just keeps getting worse and worse. Unless Pakistan finds a miracle cure to increase its revenue and cut expenses, coming out of the mess is hard.
In today's episode for 27th February 2023, we see what is ailing Pakistan's economy