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The Pakistani economy is in a desperate state, and the causes are long term, structural and not at all conducive to any "quick fix": The new Zardari government in Islamabad has inherited high inflation, large income inequality and a chronic lack of spending for infrastructure and education. Bereft of oil and possessing little natural wealth, Pakistan has suffered decades of economic failure and stagnation. Ten years ago, it came within a whisker of formally defaulting on its debts and declaring itself bankrupt. So the country's leaders have become perennial seekers of bailouts. -ramji

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16y ago

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