Domestic debt trap: an accountant’s perspective
I’m no economist per se. As an accountant, however, I’m deeply concerned at the steep hike of 150 basis points (1.5 percent) in the discount rate. This will further intensify…
Debt, inequality and austerity
In most western countries, inequality is rising, and social mobility has stalled. Our citizens are losing purchasing power. They are struggling to find a decent job, to buy a proper…
After Covid-19, Ebola lockdowns drive Ugandan workers into debt
Uganda motorbike taxi driver Charles Ssebale fears his vehicle could be repossessed at any moment, having failed to keep up with his loan repayments after the East African nation imposed…
China’s top banks to issue offshore loans to help developers repay debt
China has ordered its top four state-owned banks to issue offshore loans to help developers repay overseas debt, three people with knowledge of the matter told Reuters, in Beijing’s latest…
Debt rescheduling challenge
The country is going through a very difficult balance of payment (BoP) situation. The core of the problem is growing external public debt and its repayment. A reduction in current…
Pakistan in deep debt trap
Pakistan’s precarious financial situation, persisting for the last many decades, has landed it into a deep debt trap where an overwhelming part of tax revenue is consumed in debt servicing…
Floods, debt, and SDRs
Pakistan is facing unprecedented floods of a profoundly catastrophic nature. While 3 million livestock have died in the flood-hit areas, the other mainstay of peoples’ livelihood in the shape of…
Floods, food & debt crises, and 77th UNGA session
The United Nations General Assembly’s (UNGA’s) 77th Session from September 13-27 comes at a very crucial time for Pakistan, as the country suffers from unprecedented floods, while it was already…
Domestic foreign policy issues
A country’s leadership is supposed to serve its economic and security interests, advance people’s wellbeing, and respond to their aspirations for progress. These objectives are achieved with a combination of…
Soaring public debt
The latest estimate of the stock of public debt of Pakistan by the SBP (State Bank of Pakistan) as of end-March 2022 is a staggering Rs 44.4 trillion. In effect,…
