Pakistan Economic Crisis: Economic crisis continues in Pakistan. Shahbaz Sharif’s government is extending its hand to the world for financial help. Despite the help from some countries, there is no visible improvement in the economic condition of the country. The situation is getting worse due to the huge shortage of foreign exchange reserves in the country. Due to the continuous decrease in the value of Pakistani currency against the dollar, the difficulties have increased further.
Situation like Nepal and Sri Lanka is also being created in Pakistan. Amidst the chaos of Pakistan Inflation, the essential things of daily use are also going out of reach of the people. >Pakistani currency is in very bad condition. Pakistani Rupees has reached a low of Rs 230.93 against the dollar. Within the last three months, the price of Pakistani rupee has declined by more than Rs 12 against the dollar. The Pakistani rupee was pegged at 217.79 against the dollar in October last year.
Currency rates of neighboring countries
• At present, the value of Pakistani rupee against 1 dollar is 217.79
• Indian rupee stands at 81.62 against 1 dollar
• Nepalese rupee stands at 130.34 against 1 dollar
• The Sri Lankan rupee stands at 363.11 against 1 dollar
• Bangladeshi taka is at 103.34 against 1 dollar
Why Pakistan’s economy has worsened?
Pakistan, India’s neighboring country, has an atmosphere of political instability, foreign debt The economy has collapsed due to the burden and huge reduction in foreign exchange reserves. Last year’s flood in the country is also responsible for this plight. Due to the skyrocketing inflation, the condition of the common people is bad. Energy crisis is also a big challenge in the country. Blackouts in several cities of the country in recent days indicate serious plight.
Will IMF help?
Pakistani newspaper Express Tribune According to a report, the economic crisis has deepened to such an extent that if immediate financial assistance is not provided, the country’s economy may be completely destroyed and stand on the verge of bankruptcy. Pakistan has foreign exchange reserves left for only a few days to import. Now Pakistan is expected to get relief from IMF, but it is also not ready to help without fulfilling the conditions.
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