Question

effect of debt crises on poors people in Pakistan​

Answer 1

Answer:

• Pakistan originally became highly indebted in the 1970s, when the government borrowed to cope with the impact of high oil prices. Ever since, the people have suffered from a large external debt. The response to this debt crisis has been to continuously obtain bailout loans from the International Monetary Fund (IMF). For 32 of the last 44 years, Pakistan has received loans from the IMF, one of the most sustained periods of lending to any country. However, Pakistan today continues to have a large external debt, inequality is entrenched, and the country failed to meet most of the Millennium Development Goals