In 2018, Pakistan ranked 107th out of 140 on the On top of these issues is the larger question of Pakistan’s failure to expand its export portfolio beyond a few low value-added products, such as textiles, rice, surgical goods, carpets, sports goods, and leather items, which is one of the largest factors behind its balance of payments deficit. 28 Jun 2019 21:26 GMT. Foreign direct investment (FDI) has declined by more than 50 percent, whereas local investors are hesitating to invest mainly because of unfair accountability checks on capital and fresh taxes.There is many causes of that what is explained above. The effect of these crises on our national economy continued to 2014 and 2015. Such deterrence is also reliable. The unequal distribution of funds during the partition paved the way for country’s dependence on first external loans from the International Monitory Fund (IMF) in 1958. Economy of Pakistan at a crossroads 3. Such a significant devaluation has raised new challenges and impacted the loan payments and other financial obligations with which Pakistan has to comply.Pakistan’s inability to repay its debts is adding fuel to the declining economic conditions. The country has a long history of borrowing from external sources such as the IMF. Although the nature of economic crises has evolved over time, the crises have not ended. No sincere efforts have been taken by any government in bringing durable economic reforms. This means the country will need more and more funds and infrastructure to sustain quality life of its people in future. Pakistan must take advantage of this moment of hard-won reprieve by building a truly stable and sustainable economy before it once again finds itself digging its own economic grave – and that of its people.Emmerson discusses the South China Sea, the U.S.-China competition, and COVID-19 as factors in the region's relations with China.Metro Manila is back in lockdown and the Philippines has overtaken Indonesia as the Southeast Asian country with the most COVID-19 cases.As North Korea doubles down on COVID-19 containment measures, local sources report several outbreaks.In Da Nang, residents broadly welcome the Vietnamese government's aggressive response to the shocking resurgence of COVID-19.Even before the outbreak in Da Nang, Hoi An’s people were devastated by the loss of tourists.
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As per the reports of the leading national daily, Dawn, Pakistan loses $10-15 billion a year to money laundering. Pakistan’s total trade with its neighbouring countries, except china, is merely four billion dollars, which is just 5.7 percent of our total global trade volume, whereas the trade between Canada, the USA and Mexico under the North America Free Trade Agreement crossed $1000 billion in 2016. Borrowing has become the practice of our everyday life without putting any genuine effort to minimise dependence on the IMF. The circular debt of Rs 807 billion has crippled the fragile economy of Pakistan. Current account deficit increasing exponentially 3.