What Pakistan’s Debt Dilemma Reveals About Looming Global Default Crisis | Debt Bomb | Full Episode

According to the IMF, debt is at the highest level in decades. With high interest rates and a global economic slowdown, 60 percent of low-income countries are either already in debt distress or at high risk of debt distress. Pakistan is one country that has gone to the IMF recently for a bailout package. How is the country’s debt burden impacting its people? How is the debt problem further exacerbated by climate change? And what is the role of China’s Belt and Road initiative in Pakistan’s debt situation?

Pakistan is just one of 70 about countries struggling with a debt burden. With debt repayment expected to go up in 2024, will we see a global financial contagion and a deluge of defaults?

WATCH MORE Debt Bomb

00:00 Introduction
01:36 Debt crisis driving illegal migration
05:46 Pakistan’s economic challenges
08:20 The collapse of Pakistan’s textile companies
15:11 Climate justice for Pakistan?
17:46 China Pakistan Economic Corridor – a debt trap?
23:25 Are we in a fourth debt wave?
27:21 How did the debt crisis build over 15 years?
30:11 Did China’s Belt and Road contribute to a debt crisis?
36:36 How do China and the IMF compare as lenders?
43:06 Could we face a global financial contagion?

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About the show: According to the IMF, 60 percent of low-income countries are either already in debt distress or at high risk of debt distress. Will we see a global financial contagion?
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#CNAInsider #DebtBombCNA #Debt #IMF #Pakistan

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[iguatemi]

Pakistan is able to fund a huge army and a nuclear arsenal.
Also deforestation played a key role in the floods. At independence 40% of Pakistan was covered in forests. Now it’s 3%. Many problems are homemade. But always easier to blame others

[haridasification]

A country built on religious lines and now collapsing under it's own weight

[prashanthkamath]

Pure bullshit! Ecologically, Bangladesh is placed in a worse place. Yet Bangladesh has managed its economy and ecology very well. Pakistan's ruling elite's priorities are playing geopolitics and not the well-being of its population. Helping Pakistan in any way are effort down the drain.

[aishik]

Pakistan and India r perfect examples of two countries which found independence at the same time, but due to different policies and societies find themselves in drastically different situations.

[nicks]

Give them a dollar, a whole penny goes to the people and 99 goes to the corrupt government 😂

[JackHawkinswrites]

As long as Pakistan remains a nuclear armed nation there is no reason to provide them any financial assistance. The priorities of the Pakistani government are not worthy of international support

[vivdroid]

Pakistan Army - Our motto is "Never Won Any Wars but Never Lost a Single Election!"

[jayakeshavan]

800, 000 Pakistani left Pakistan. How many are radicalised we don't know. The country who took them should monitor them critically.

[ThinkingMan-kwkf]

Golden words “if we are stupid, it’s nobody else’s fault”

[vippsmillennial]

The reason behind the sudden slump in the Pakistani economy is that the remittances from the Gulf countries have stopped coming. People are migrating to Western nations and aren’t willing to come back to Pakistan. They apply for citizenship in those countries. Before their only option was the Middle East, where they would spend at max a decade or two, accumulate money and settle back in Pakistan itself. That foreign money helped the nation in a huge way. And that money has suddenly stopped!

[amankumar]

Pakistan was bound to face the situation as 20% of gdp goes to it's Army.

Once former Prime minister of Pakistan said, "we will eat grass but we will make atom bomb". Most European Country who will bail out Pakistan doesn't have such Army or Atom bomb

[bobbyhidayat]

Nuclear program but cant even take care of its people

[cknk]

The two reasons for this poor situation of Pakistan is 1) Obsession with Kashmir 2) China !!!!

[prsh]

When Pakistan got IMF bailout again in July 2023, first thing they did is built a 500 ft flag pole…👏👏
They also increased their Defence budget by 16%😮😮

[guruprashanth_k]

"I shall eat grass but will not stop developing bombs" - Pakistan Leaders

[xenon]

My friend's father is a Pakistani Army Colonel of the Sindh Regiment and his two brothers are also studying in England.I asked him how his father was able to send him to BPP University without taking a student loan from the bank.He said his father used to provide children from his battalion for 'bachcha Bazi' for foreign tourists coming to Pakistan for sex tourism.

[googleyahoomorzilla]

My father was in the Pakistan textile industry. When he asked the local tax collector how he drove a Mercedes and lived abroad most of the time, his answer was human trafficking and opium trade. 😢

[darkspyder]

Well karma always comes back its time for Pakistan to pay for their crimes against minorities

[jumbomuffin]

Crazy how the country’s economy tanked after the U.S. decreased/stopped the military “aid”

[Amitparashar]

They said they can’t live with kafirs and now going to a kafir country..hypocrites.