Pakistan Economic Crisis: Begging for loan from Saudi Arabia, China, Shahbaz getting trapped in the quagmire of loan to Pakistan, it will be difficult to get out! – pakistan is in deep economic crisis and pm shebaz relying only on loans and its a bigger problem
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Pakistan in trouble
According to the experts keeping an eye on the country’s economic situation, if Pakistan had depended on the loan it was getting from the IMF, then perhaps the pain would have been less. But the loan he is getting from other countries is going to double his troubles. The ever-decreasing standard of living coupled with a shrinking GDP for several months, fuel shortages, food shortages and shortages of other essentials add up to a host of difficulties. The economy is at a point from where it will take many years to recover. It is a scary experience and nightmare that no one wants to even talk about. Pakistan restructured its debt in the late 1990s.
very bad situation
Before the year 2008, when the world economy was progressing, it also helped the government of Pakistan. The economic condition of the country became such that after two to three years it became easy for the country. After this, as soon as the dollar started being used for domestic consumption. At this time the country’s exports and productivity decreased. The economy of Pakistan which improved in the year 1990, it took 25 years to improve it. But this time the situation is very bad.
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If experts are to be believed, the world is moving ahead in the midst of recession. In such a situation, the way PM Shahbaz is seeking loans from countries like China and Saudi Arabia, it is a big threat to the country. Experts believe that it has also become difficult for Pakistan to ensure how it will maintain its credibility. All the help received in the name of Afghanistan has also ended. The economy of Pakistan is currently running on alms. Last week, Pakistan has received $4 billion in aid from Saudi Arabia and the UAE. Due to this help, the danger of poverty on the country has been averted.
Crisis increasing every year
The question is how the additional loans will help the country. Due to the policies of PM Shahbaz, the debt burden on the country is increasing day by day. Shahbaz says that the condition of the country worsened due to the flood. While according to the Bookrings study, Pakistan’s economy was already in ruins before the devastating floods. Productivity in the country was absolutely zero and because of this every loan from abroad looked like a relief. Every year the crisis got worse and the debt bill got bigger. The crisis facing the country is huge now.
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