Facing Bankruptcy: The Macroeconomic Conditions of Sri Lanka and Pakistan

Economics & Macro

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Viva Budy Kusnandar 13/07/2022 17:10 WIB

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The following details the macroeconomic conditions of Sri Lanka and Pakistan as of July 11, 2022, or the last available data period.

Sri Lanka and Pakistan Macroeconomic Indicators (July 11, 2022*)

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Facing Bankruptcy: The Macroeconomic Conditions of Sri Lanka and Pakistan

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Sri Lanka and Pakistan Macroeconomic Indicators (July 11, 2022*)

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Soaring Covid-19 pandemic debt, currency depreciation, and surging food and energy prices triggering high inflation have pushed several countries to the brink of bankruptcy.

One country experiencing this crisis is Sri Lanka. This South Asian nation is threatened with bankruptcy due to a financial crisis that has evolved into a multidimensional crisis.

Here are the details of Sri Lanka's macroeconomic conditions up to July 11, 2022, or the last available data period:

* Inflation as of June 2022: 54.60% (yoy)
* Economic Growth as of March 2022: -1.40% (yoy)
* Currency Depreciation against the US dollar as of July 11, 2022: 77.56% (ytd)
* Debt-to-GDP Ratio as of December 2021: 117%

Another South Asian country, Pakistan, is experiencing a similar situation. Rising prices, coupled with the weakening of the Pakistani Rupee against the US dollar, are increasing the burden on the country's citizens.

Here are the details of Pakistan's macroeconomic conditions up to July 11, 2022, or the last available data period:

* Inflation as of June 2022: 21.3% (yoy)
* Economic Growth as of December 2021: 3.9% (yoy)
* Currency Depreciation against the US dollar as of July 11, 2022: 17.6% (ytd)
* Debt-to-GDP Ratio as of December 2021: 84%

(Also Read: 10 Countries with the Highest Inflation, Some Exceeding 200%)

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."