Posted inOpinion

Pakistan pays heavy price for domestic turmoil

Pakistan’s economy is in a deep mess. This summer’s epic floods took more than a thousand lives and inflicted billions of dollars in damage and devastation. In spite of an International Monetary Fund (IMF) bailout, Pakistan’s external-account position remains precarious. Foreign-exchange reserves at hand cover less than two months of imports. Exports and remittances are in decline.  Pakistan’s perceived default risk, as reflected by […]