Pakistan economy is on the verge of collapse: Financial Times

[epebble]

If they had freed the dollar earlier, we could have saved a lot. Now brace brace brace!

That is a very important lesson. Trying to swim against market forces, makes you lose at the end and the spectators will laugh at you. Here, the fear, uncertainty and doubt caused quite a bit of capital flight and that will make recovery harder.

This is not a special weakness of Pakistan alone. Stronger countries have tried it too with same disastrous consequence.
For example, this happened 30 years back:

How Soros Broke the British Pound​

How Soros Broke the British Pound

Black Wednesday is known as the day that George Soros bet against the British pound, leading to one of the most catastrophic financial events in modern history

theeconreview.com

 

[mike2000 is back]

I heard white Brits are being helped by the Pakistanis you guys hate 24/7.

LOL you should read some of the comments. They are hilarious.

Come on dude, If we hated you the way you claim, then do you think Pakistanis and others will be dying/drowning in the sea to come here? They still try everything they can to come to Britain, even after they make it to Europe/France., they always try to cross the channel to come here. So i think you should stop with this "they hate us" stuff, its quite silly to be honest.
Now lets get back to topic. I merely asked a simple genuine question and you got all defensive and changed the topic talking about Brexit as if it has anything to do with topic at hand.

 

[Friday]

ڈار کو ڈالر بنانے کے لیے صرف ایک "ل" کی ضرورت ہے

 

[HttpError]

Way better than Pakistan or any South Asian country for that matter, thats for sure.

Britain ought to be performing well, after plundering and looting wealth from South-Asia and stealing everything from their colonies and then committing genocides you better should be performing well.

 

[Dalit]

Come on dude, If we hated you the way you claim, then do you think Pakistanis and others will be dying/drowning in the sea to come here? They still try everything they can to come to Britain, even after they make it to Europe/France., they always try to cross the channel to come here. So i think you should stop with this "they hate us" stuff, its quite silly to be honest.
Now lets get back to topic. I merely asked a simple genuine question and you got all defensive and changed the topic talking about Brexit as if it has anything to do with topic at hand.

Feed your children dude. Brexit has made Britain poor. You Brits are hardly an example to follow.

 

[mike2000 is back]

Feed your children dude. Brexit has made Britain poor. You Brits are hardly an example to follow.

OK, if you say so.

 

[Dalit]

OK, if you say so.

 

[Baburfromsarmarkand]

Britain ought to be performing well, after plundering and looting wealth from South-Asia and stealing everything from their colonies and then committing genocides you better should be performing well.

if someone from a tiny island can come and conquer you in ur home base, shame on you.

 

[HttpError]

if someone from a tiny island can come and conquer you in ur home base, shame on you.

Someone with name of "Babur" should be more ashamed than me.

 

[One_Nation]

Pakistan cannot be fixed by anyone until and unless it fixes itself. It alone is responsible for its own well-being. WHY is that too difficult for them to understand this simple fact?

This is why default is needed to fix this mindset of someone coming over with help like it always happens.
Even in this situation I have never heard anyone influential talking about how to generate income locally.

 

[VCheng]

This is why default is needed to fix this mindset of someone coming over with help like it always happens.
Even in this situation I have never heard anyone influential talking about how to generate income locally.

Many countries have defaulted and recovered thereafter. It is not like the sky would fall over the country.

 

[Redbeanpaste]

Its not funny.

 

[epebble]

Many countries have defaulted and recovered thereafter. It is not like the sky would fall over the country.

Pakistan's problems are orders of magnitude larger. Lebanon times 40.

A catastrophic collapse?​

A catastrophic collapse?

The stability and prosperity of Pakistan have been jeopardized by the current economic and political crisis.Political instability since April 2022 and the events that followed it has brought the...

www.thenews.com.pk

 

[One_Nation]

Many countries have defaulted and recovered thereafter. It is not like the sky would fall over the country.

Right. The important thing is for these rigidly backward people to learn right lessons and see what 'Allah deta hai' philosophy does to you.
The more backwards people are the more painful their learning is. This tragedy needs to happen.

 

[epebble]

'Allah deta hai' philosophy does to you.

Talking of which, I have been surprised by the extreme strangeness of behavior of the finance minister Dar. The country is on the verge of economic collapse, and he posts a verse on his twitter. I have been visiting his Twitter for a few months and NOT ONCE has there been any policy, position paper, discussion, white paper. Nothing. But plenty of prayer requests and beseeching the divinity to intercede. We would be shocked if we had a financial crisis and our Fed Chairman or Treasury Secretary resorted to posting prayer requests for divine intervention. I don't see this issue mentioned at all. This obviously shows he is genuinely clueless and has lost his marbles.