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Title: Pakistan's economy in a precarious state: SBP

URL: http://www.dawn.com/news/1178084

Date: March 14, 2023

Summary: The State Bank of Pakistan (SBP) has warned that the country's economy is in a precarious state, with a high risk of debt default and a potential economic crisis. The SBP's warning comes as the country's foreign exchange reserves have fallen to a critically low level, and the government is struggling to pay its debts.

Full Text:

Pakistan's economy is in a precarious state, with a high risk of debt default and a potential economic crisis, the State Bank of Pakistan (SBP) warned on Tuesday.

In its latest report, the SBP said that the country's foreign exchange reserves had fallen to a critically low level, and the government was struggling to pay its debts.

"The current economic situation is precarious, with a high risk of debt default and a potential economic crisis," the SBP said in its report.

The SBP's warning comes as the country's foreign exchange reserves have fallen to $6.5 billion, which is barely enough to cover two months of imports. The reserves have been declining steadily over the past few months, and the government has been struggling to find ways to boost them.

The SBP also warned that the country's debt was unsustainable, and that the government needed to take immediate action to address the issue.

"The debt burden is unsustainable, and the government needs to take immediate action to address this issue," the SBP said in its report.

The SBP's warning has sparked concerns about the country's economic stability, and has led to calls for the government to take immediate action to address the issue.

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