Pakistan: Bonds Drop, Default Fears Amid Flooding

Image copyright: islamabadpost

The Spin

Pro-establishment narrative

Pakistan, which has one of the smallest carbon footprints, is being devastated by climate change. Recent floods have seen millions of people affected and billions of dollars lost, trapping the South Asian country in economic turmoil. Pakistan is literally paying the price for others' emissions.

Establishment-critical narrative

Pakistan's economy is just one of the government's many failings amid the political turmoil that has paralyzed its governance. The South Asian country — which has a faltering tax regime, a weakening middle-class, and a shrinking education rate, to name a few — has abandoned all economic reforms and foolishly relied on bailouts, which will now do very little to solve this crisis.


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