Economics Explained
The Failing Economy of Pakistan
Apr 16, 2024
The podcast discusses Pakistan's economic challenges, debt, currency devaluation, and impact on citizens. It explores potential solutions such as seeking international loans and the country's ties with China's Belt and Road Initiative. The episode highlights the interconnectedness of Pakistan's economy with major global players and the effects of disrupted remittances post-COVID.
19:00
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Quick takeaways
- Pakistan's reliance on foreign economic factors like China's Belt and Road Initiative and remittances impacts its stability.
- Borrowing in foreign currencies exposes Pakistan to interest rate risks and financial instability.
Deep dives
Economic Challenges in Pakistan
Pakistan, the 23rd largest economy, is facing a severe economic collapse leading to potential mass starvation. The country's reliance on major economic events like China's Belt and Road Initiative and its foreign workforce sending back a significant portion of the GDP home play a crucial role. The economic issues in Pakistan also reflect concerns about its hostile relationship with India and draw comparisons to Sri Lanka's economic collapse.
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