Pakistan’s Perpetual Crisis
Like much else about Pakistan, it’s often infuriatingly difficult to determine whether or not its economy is on the brink of disaster. This week, as the Pakistani rupee lost 5 percent of its value in just three days, it looked like trouble was brewing. And sure, this might be a sign of the economy slipping towards a balance-of-payments crisis. But, then again, it might not. Pakistan doesn’t just live on the edge, it seems altogether nonchalant about being there.