Monday, April 22, 2024
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Sarmad Ishfaq is an independent researcher and writer whose work has been published by The Diplomat, Harvard Kennedy School Review, Open Democracy, Paradigm Shift, and Eurasia Review to name a few. He has also been published by several international peer-reviewed journals such as Taylor and Francis' Social Identities. Before becoming an independent writer, he worked as a research fellow for the Lahore Center for Peace Research. He has a master's degree in International Relations from the University of Wollongong in Dubai where he was recognized as the 'Top Graduate'.

Lessons for cash-strapped Pakistan from India’s 1991 economic crisis

The op-ed begins by highlighting Pakistan's abysmal financial crisis and the country's plunge towards economic default. It then explains India's economic situation in 1991 which was similar and in many ways worse than Pakistan's. India, which at one point could not afford even 3 weeks of imports, came out of the crisis due to revamping its trade system and liberalizing its economy. The last section details the lessons that Pakistan can learn from the Indian experience.

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