Pakistan’s Economy in Crisis: IMF Deal, Subsidy Cuts, and Public Backlash

Pakistan’s economy is in serious trouble. This summer, the country struck a deal with the International Monetary Fund (IMF) to avoid debt default. But the IMF did demand an end to popular subsistence subsidies. The government has also raised fuel prices and taxes to fund the treasury.

The shopkeepers now say that as a result they can no longer provide for their livelihood because there is not enough money for food, for example. For example, banners can be seen at abandoned bazaars complaining about “unreasonable” increases in bills and taxes. However, the Pakistani government argues that there is no alternative to the price increases.

2023-09-02 12:13:52
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