Pakistan Crisis Much Serious Than We Believe

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In Pakistan crisis, the news is never good. Whether discussing social, financial, cultural, political, strategic, or geopolitical issues, a general impression of unrelenting violence, a lack of law and order, sluggishness, sectarian conflict, and hatred develops. 

The dominant social structure in its society is still feudalism.

The suicide bombing in a Peshawar mosque, which resulted in the deaths of 100 policemen, and the revelation that Pakistan is now insolvent financially, are the two biggest stories to have come out of that nation in the past week.

In an interview with CBS’s 60 Minutes on February 5, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said that China’s finance minister and central bank governor would take part in a roundtable with other creditors and other borrowing countries in February in India.

On February 3, the IMF stated that China had to take additional steps to address its real estate issues. About a quarter of China’s GDP comes from the real estate sector, which has slowed the country’s economic expansion, particularly after Beijing began to crack down on developers’ heavy reliance on debt in 2020. Over the past few months, Chinese authorities have begun to loosen limits on funding for the industry.

Pakistani authorities requested the revised Circular Debt Management Plan (CDMP), and they also asked the IMF to reduce the necessary additional subsidy from its original target of 687 billion rupees to 605 billion. The resulting deficit was in the $400–450 billion range.


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