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02

Feb
Print Media

The case for sovereign default

By Nadir Cheema Published in Dawn on February 02, 2023 THE word ‘default’ (or its less pejorative technical equivalent, ‘restructuring’) sends shivers down the spines of our policymakers and citizens alike. It shouldn’t. Sovereign default, in an economic sense, means a government reneging on its obligations. Per this meaning, almost all governments of the world have indulged […]

30

Jan
Print Media

Chronicle of a crisis foretold

By Murtaza Syed Published in The Express Tribune on January 30, 2023 With just $3.7 billion left in foreign exchange reserves, Pakistan is once again staring into the abyss. Only the IMF team’s arrival today offers a glimmer of hope that we will be able to stave off default. Eighteen months of smoke and mirrors have brought[…]