The Mirage of Recovery: How Pakistan’s “Wonderful Indicators” Conceal a Collapsing Economy

Industry is shutting down, capital is fleeing, and millions face hunger. Pakistan is suffocating in borrowed time.

Pakistan’s leaders declare the country “out of economic woes” while standing on borrowed ground. The central bank reserves that ministers trumpet are heavily padded with Gulf deposits that Pakistan cannot afford to repay. Saudi Arabia alone has three billion dollars parked with the State Bank, rolled over again in late 2024 because there is simply no wa…