Question

how to solve the effect of debt crises on poors in Pakistan? In own words plz​

Answer 1

We can solve the effect of debt crises on poors by the debt crisis is economically easy but politically difficult and the first agree to cut spending and raise taxes to an equal amount and each will reduce the deficit equally although they have different impacts on economic growth and job creation that tax cuts are not great at creating jobs.

Answer 2

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.The solution to the debt crisis is economically easy but politically difficult. First, agree to cut spending and raise taxes to an equal amount. Each will reduce the deficit equally although they have different impacts on economic growth and job creation. Tax cuts aren't great at creating jobs.

Explanation:

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