Pakistan’s economy is nearing total collapse. After over three years of repeated crisis, the country’s inflation rate has doubled while poverty has increased by double digits. Foreign exchange reserves are also running dangerously low. The country’s political leaders, including the government of Shehbaz Sharif, seem to have little ability to stop the crisis. HT’s Shashank Mattoo breaks down how Pakistan’s economic crisis came to be. Mattoo looks at the historic reasons for Pakistan’s weak economy including mismanagement by political leaders and the malign influence of the Pakistani military. Mattoo also breaks down how the present crisis spiralled out of control and what it will take to save Pakistan’s economy and its people.
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