Pakistan facing bankruptcy as world financial crisis deepens »
Posted By Grancher 1 year, 1 month ago in NewsWracked by political instability and hard hit by the global
economic crisis, Pakistan is teetering on the brink of default.
The country’ s foreign reserves have dwindled to around $4.5
billion, equivalent to about six weeks of imports, foreign investors
have fled the country in droves and the rupee has fallen sharply.
The international credit rating agency, Standard & Poor’ s,
has downgraded Pakistan to a position superior only to the Seychelles,
which has already defaulted.
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Grancher1 year, 1 month ago
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It looks like Pakistan is taking a rather hard hit. It doesn't bode well for the Yiwu Small Commodities Fair. It's one of the largest Expos in China, starting tomorrow and from what little I know on the subject Pakistani businessmen, as well as many businessmen from other Middle Eastern, Central Asian and African countries, frequent this fair.
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