Naya Pakistan erodes Pakistan’s wealth

According to the latest Global Wealth Report issued by Credit Suisse, Pakistan is one of the biggest losers as the country’s wealth declined by $141 billion in 2018-19. The United States is at the top, followed by China, Japan, India and Brazil. Pakistan, along with Turkey, is one of the main losers.

According to the report Pakistan suffered one of the biggest currency depreciations against dollar of -24 percent. “The market capitalization in Pakistan dropped by 42pc, compounding the impact of exchange rate losses.”

The Pakistan army may try to shore up business morale, the Prime Minister’s advisers may talk about a resurgent economy and a better 2020 but as of now Pakistan is in a worse situation on the economic front than it was before Prime Minister Imran Khan took over

Author: Shaista Sindhu

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Author: Shaista Sindhu