Don't worry. We have the best administrator in human history now. He would sell his clothes but won't let Pakistan default
He apparently wakes up at 5 and starts work at 7!
And then you have Bajwa, a man who prays 5x a day plus Tahajjud. Never listened to a Bollywood song in his life
With capable custodians like these, who can harm Pakistan?!
Surprised to see the oil rich Bahrain on this list. They have 115% debt to GDP. What could have possibly borrowed so much money for? :-/
"The 2021-2022 budget included some reforms, such as reducing electricity and water subsidies and trimming operating expenses like administration and procurement costs. Spending in 1H21 has been restrained, falling by 4% yoy. The rebound in oil prices has meanwhile helped to lift budget revenue by 23% yoy in 1H21."
"The original FBP paved the way for a commitment from Bahrain’s Gulf partners (Saudi Arabia, Kuwait and the UAE) to provide USD10 billion in support loans over 2019-2023. We believe a VAT increase would help to ensure ongoing support from the current financial package, while a broader reboot of the FBP would facilitate further Gulf Cooperation Council (GCC) support beyond 2023, in line with our assumptions when we
affirmed Bahrain’s Long-Term Foreign-Currency Issuer Default Rating at 'B+', with a Stable Outlook, in April 2021."
I guess as is the case with most Sheikhdoms, the subsidies probably play a large part in the debt figures and coupled with the Pandemic, they negatively impacted coffers.
