Pakistan economy in ‘tight position’, Finance Minister Ishaq Dar calls it ‘system’s fault’

“We’re in a tight position. We don’t have $24 billion in foreign exchange reserves that our (last) government left in 2016. But that’s not my fault. It’s the system’s fault,” Dar said. At the same time, the Pakistani finance minister noted that there was “no way” that Pakistan was going to default.

Despite the fact that the nation had already paid off its $1 billion in Islamic bonds earlier in December, Pakistan “pseudo-intellectuals” predicted a potential government default, Dar said while criticising such people.

The State Bank of Pakistan (SBP) stated in its annual report, citing international experience, that nations that prioritise growth over pricing and financial stability are unable to sustain growth and repeatedly…