Pakistan’s Default Imminent as $22B Debt Repayments are Due & Inflation at 50 Year High

By Admin

Pakistan is on the verge of default and is facing an economic meltdown as the country runs out of Cash and energy & food costs continue to escalate.

Pakistan has over $275 billion of debt and requires over $30 billion to service its debt and purchase fuel and food over the next 6 months. An urgent bailout is needed and Pakistan is in discussions with the International Monetary Fund about a bailout loan. However, the IMF wants Islamabad to agree to the terms that they do not like. In a desperate attempt to avoid bankruptcy Pakistan has now agreed to an oil supply deal with Russia but is in urgent need of some capital as the national reserves are now down to $3 billion, meaning that the country has less than 3 weeks’ worth of imports of cash remaining.

Courtesy: Joe Blogs Youtube Channel

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