Following calamitous floods and economic losses in the tens of billions of dollars, Pakistan’s economy is in crisis. With high food and fuel prices, rolling blackouts and a shortage of foreign currency risk, the country is on the path to sovereign default and extreme hardship.
In this dire situation, what solutions exist for Pakistani policy-makers and the central bank? What will it take to unlock International Monetary Fund loans and address structural and economic problems? Reza Baqir, former governor of the State Bank of Pakistan, joined Mark Sobel, US chair of OMFIF, in a high-level discussion on the Pakistani economy and the policy options at their disposal.
Speaker:
Reza Baqir, former Governor, State Bank of Pakistan
Recorded on 01/03/2023