Pak's Inflation At 50-Year High, 20 Killed In Stampede For Food In 10 Days
NDTV
Years of financial mismanagement and political instability have pushed Pakistan's economy to the brink of collapse, exacerbated by a global energy crisis and devastating floods that submerged a third of the country in 2022.
Pakistan's year-on-year inflation hit 35.37 percent in March -- the highest in nearly five decades -- as the government scrambled to meet International Monetary Fund (IMF) conditions to unlock a desperately needed bailout.
Month-on-month inflation was 3.72 percent, according to government data released Saturday, while the average inflation rate for the past year was 27.26 percent.
Years of financial mismanagement and political instability have pushed Pakistan's economy to the brink of collapse, exacerbated by a global energy crisis and devastating floods that submerged a third of the country in 2022.
The country needs billions of dollars of financing to service existing debt, while foreign exchange reserves have dwindled and the rupee is in freefall.
