Pakistan seeks bailout from IMF as the economic crisis gets worse | Oneindia News*Explainer
Video Credit: Oneindia - Duration: 03:55s - Published
Pakistan seeks bailout from IMF as the economic crisis gets worse | Oneindia News*Explainer
For Pakistan, its problems don’t seem to be anywhere near its end.
The economic crisis the country is battling…is showing no signs of improving.
Infact, it is worsening with almost each passing day.
Just yesterday, Pakistan's currency fell to a record low of ₹ 255 against the US dollar…and now, it has forex reserves just enough for 3 weeks at max.
Recently, the central bank increased its benchmark interest rate to 17%...the highest in over 24 years !
And these unending strings of issues are coming when its economy is struggling to cope with mounting debt, global inflation and political instability, and has been pushed to the brink of a collapse.
But how did the country reach at such critical stage?
Talks have been doing the rounds that it may also go the Sri Lanka way.
But how close is it to that situation?
Let’s break it down for you in this video.
But before that don’t forget to like, share and subscribe to Oneindia.
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