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What Life Is Like in Crisis-Hit Pakistan as Inflation Soars
Posted
February 25, 2023
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February 25, 2023
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0:57Now PlayingPakistanis are struggling to make ends meet as the country lurches from one crisis to another. Here’s what life is like for them, as Bloomberg’s Ismail Dilawar finds out.
As Pakistan lurches from one crisis to another, citizens are taking to the streets to protest a dual economic and political meltdown with little precedent in the nation’s post-independence history.
For months, the world’s fifth most populous country has edged closer to a debt default, echoing the cautionary tales of other developing economies, including Sri Lanka and Venezuela. Inflation is at a 48-year high. Foreign currency reserves cover less than a month of imports. The bill for billions in damage from last year’s devastating floods continues to sting, highlighting the financial consequences of a warming planet.
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