Is Pakistan’s Economy on the Same Road as Sri Lanka’s Current Economic Crisis

Abstract

The global economy is currently spiraling into decline as the fallout of the Covid-19 pandemic and the ensuring lockdowns reverberates across the globe. Despite their best efforts, many countries have been negatively impacted by the forced closure of their economy and the supply-chain issues which have persisted over the last 12 months. The countries impacted the worst by the virus were those which you would expect, countries which were already in a state of economic decline. As a result of the lockdown, mismanagement, misuse of the power, and the burden of foreign debt, Sri Lanka’s economy has declined at a rapid pace which has negatively impacted the law-and-order situation in the country. Many experts believe that, because they share many of the same economic issues, Pakistan is set to go down the same road as Sri Lanka. In this study, we will analyze the data to understand whether or not Pakistan is on the same footprints as Sri Lanka, what problems afflict these countries, and how they compare with one another