Islamabad, Cash-strapped Pakistan is facing an unprecedented financial crisis driven by a complex web of challenges, a prominent Pakistani-American economist has warned.
Cash-strapped Pakistan faces unprecedented financial crisis driven by complex web of challenges, warns Princeton economist
Princeton economist Atif Mian points to the convergence of skyrocketing domestic and external debts, unsustainable pension liabilities, and a failing power sector as critical factors plunging Pakistan into an economic abyss, the Dawn newspaper reported.
His assessment paints a grim picture, suggesting that Pakistan’s economic distress is uniquely severe, making it a stark example of fiscal mismanagement on the global stage.
“Pakistan’s domestic and external debts, its unfunded pension liabilities, and the zombie power sector have pushed Pakistan into a deep fiscal crisis. It…
