Imran Khan came to power in August 2018. Let's analyse his economic performance.
1) Then 1 US Dollar = 122 Pakistani Rupee, today it is 1 US Dollar = 182 Pakistani Rupee. Means Pakistan's currency fell by 50% in 3.5 years.
2) Then market capitalization of Pakistani stock market was $90 billion, now it is $43 billion. Means Pakistani stock market contracted by 50% in 3.5 years.
3) Then forex reserves were $16 billion, today also it's $16 billion. Means Pakistani forex reserves didn't increase in 3.5 years.
4) Pakistani stock market was classified as "Emerging Market" by MSCI (one of the world's largest financial analysis firms) in May 2017 under Nawaz Sharif.
In September 2021 it has been downgraded to "Frontier Market" due to massive foreign capital outflow.
5) Inflation increased.
6) GDP growth declined
7) State Bank of Pakistan surrendered to IMF
8) Pakistan is in FATF grey list for 3.5 years. Pakistan's economy has lost more than $50 billion due to FATF grey listing.
9) World's largest credit rating agencies S&P, Fitch and Moody's downgraded Pakistan's sovereign debt rating and banking system therefore Pakistan has to borrow money at a higher interest rate. Recently it raised $1 billion bonds (debt) at 7.95% interest rate due to downgraded ratings. This is the highest interest rate at which Pakistan has raised bonds in its history! Analysts expect that Pakistan govt wilo be forced to raise future bonds at 10% interest rate due to economic instability and high risk of default.
10) Saudi Arabia humiliated Pakistan by lending it $3 billion with 3.8% interest rate with conditions that it should be repaid within 72 hours of Saudi Arabia asking for it.
11) CPEC slowed down due to Imran Khan's reservations about it, Dasu dam attack and unnecessary auditing, accountability and bureaucracy.
Imran Khan is the best choice for India. We support Imran Khan!
12) Recently US govt imposed fine of $55 million on National Bank of Pakistan (a state-owned bank) for money laundering. This shows that US is preparing to put you in FATF black list for money laundering. Be prepared to become the 3rd country to get blacklisted by FATF after Iran and North Korea!
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