Attention please! Foreign reserves plummet, governments face bankruptcy, these countries are at risk!
With the advent of the era of high inflation and high prices, unemployment in various countries has risen, and people's lives have been difficult. The economies of many countries have been affected to varying degrees, and many companies may even face bankruptcy.
01 Pakistan faces bankruptcy
In recent days, Pakistan is seeking $6 billion in aid in the International Monetary Fund's rescue package to deal with falling foreign exchange reserves, a widening current account deficit, rising inflation and a plummeting currency.
At present, Pakistan's foreign exchange reserves have plummeted to 10.3 billion US dollars, only enough to pay for imports in less than two months, and the country will face an imminent crisis of international default and bankruptcy.
It is understood that Pakistan's Ministry of Finance has dispatched a finance team to Doha for consultations with the IMF.
At the same time, the country's foreign exchange reserves have fallen sharply, food inflation has spiraled, and the Pakistani rupee is in a state of collapse, with a sharp 21.72% drop in the current financial year.
Farrukh Saleem, a Pakistani political scientist, economist and financial analyst based in Islamabad, said: "The rupee faces challenges due to reduced dollar inflows and lack of support from friendly countries such as China, Saudi Arabia and the UAE. The pressure is mounting.
The delay in the recovery of the $6 billion bailout fund from the International Monetary Fund has also led to a sharp drop in the country's foreign exchange reserves. "
02 Sri Lanka is in serious economic crisis
Affected by factors such as the new crown epidemic and high fuel prices, Sri Lanka is currently experiencing its worst economic crisis since independence in 1948.
According to CGTN Weibo on May 19, the grace period of Sri Lanka`s $12.6 billion foreign debt