The Pakistan Democratic Movement’s spokesman Hafiz Hamdullah said on Sunday that the country’s economy must recover before the next general election can be held. He said that the PTI lost power because it left the country in a financial bind under Imran Khan’s leadership. He added, “PTI was imposed by force.”
At present, Pakistan’s foreign exchange reserves amount to $4,601 billion, barely enough to cover imports for four weeks, held by the State Bank of Pakistan (SBP). Foreign exchange reserves at the SBP have fallen by 22.11% since February 2014.
The current account deficit of Pakistan must be reduced to ensure that the country can meet its debt obligations for the current fiscal year by receiving foreign assistance.
Alongside a simmering political crisis, the rupee has plummeted and inflation is at decades-high levels in Pakistan, despite devastating floods and a global energy crisis.
