“As Pakistan lurches from one crisis to another, citizens are taking to the streets to protest a dual economic and political meltdown with little precedent in the nation’s post-independence history,” Bloomberg reports.
“For months, the world’s fifth most populous country has edged closer to a debt default, echoing the cautionary tales of other developing economies, including Sri Lanka and Venezuela. Inflation is at a 48-year high. Foreign currency reserves cover less than a month of imports. The bill for billions in damage from last year’s devastating floods continues to sting, highlighting the financial consequences of a warming planet.”
