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Default: last hour?

Negotiations with the IMF (International Monetary Fund) have entered the final round. The plans and proposals prepared by the government have been deemed inadequate. Now the IMF has come up…

Managing sovereign default

Nations can and do periodically default on their sovereign debt, despite the fact that they do so comparatively infrequently. This happens when a country’s government is either unable or unwilling…

Pakistan won’t default

The ongoing ‘default’ discussion is a favourite political and economic pastime. After the first decade since independence, Pakistan never got rid of a default threat. It will remain exposed to…

Default?

Pakistan is not about to default on its debt obligations, neither external debt nor internal debt. A sovereign default is the “failure by a country’s government to pay its debt”.…

Is default in prospect?

The economy is closing in external payment ‘implied default’ situation. This means that with SBP’s (State Bank of Pakistan’s) forex reserves depleted, authorities may forcefully cut down imports further. SBP’s…

Avoiding default without misery

The challenge in dealing with the short-term crisis is to avoid debt default without making the poor pay for it. At the same time, the tactical measures undertaken should be…

Abandoning higher education

On Wednesday, members of our much vaunted ‘youth bulge’ that counts itself as supporters of the party of justice were proudly abusing police and setting alight public property in Islamabad.…

Flirting with default?

A country’s economic outlook is inversely proportional to the political uncertainty prevailing there. This is very evident in the case of Pakistan, where increased political polarization is affecting the economic…

Default risk at hand

Around end of March, in a World Bank published article ‘Are we ready for the coming spate of debt crises’ it was pointed out that ‘In recent weeks, Russia’s invasion…