CNA Insider: Another Sri Lanka in the Making? Pakistan on Brink of Economic Ruin


CNA Insider
Jul 19, 2022

A growing debt crisis, dwindling forex reserves and soaring inflation have pushed Pakistan to the brink of an economic disaster. These were some of the factors which contributed to the ouster of former Prime Minister Imran Khan in April this year through a vote of no confidence. His removal has created a turbulent period of political instability and uncertainty in the country.

Today, the Pakistani rupee has been in free fall. It plummeted to an all-time low of 211 against the US dollar only in June this year, adding further pressure to the Pakistani economy. It now relies on financial aid from the International Monetary Fund (IMF) to help stave off an unimaginable economic crisis.

With the economic crisis deepening, all eyes are on Prime Minister Shehbaz Sharif to ease sufferings of his people. Can he get the country of the woods? Or is Pakistan another Sri Lanka in the making?


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