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Pakistan had created a Post-Disaster Needs Assessment (PDNA) with assistance from the United Nations system, World Bank Group, Asian Development Bank, and European Union. This estimate places the flood damages at over US$14.9 billion, the economic losses at over US$15.2 billion, and the cost of reconstruction at over US$16.3 billion. [9]
Poverty in Pakistan has been recorded by the World Bank at 25.3% using the lower middle-income poverty rate of US$ 3.2 per day for the fiscal year 2020–21. [1] In September 2021, the government stated that 22% percent of its population lives below the national poverty line [ 2 ] set at Rs.
However it is ironic that what the country depends on for its growth is also what threatens the future welfare and success of the country. According to the World Bank, [4] 70% of Pakistan's population live in rural areas and are already stricken by high poverty levels. These people depend on natural resources to provide income and tend to ...
Pakistan Vision 2025 is a set of goals for social, economic, security, and governance developments outlined by the government of the Islamic Republic of Pakistan to be achieved by 2025. The overall goal is for Pakistan to become an upper-middle income country by 2025 and to eventually become one of the top ten economies in the world by 2047 ...
The Brandt Report is the first report of the Independent Commission on International Developmental Issues, chaired by Willy Brandt, published in 1980. [1] The Independent Commission on International Developmental Issues was established in 1977 with the aim to review international development issues, [ 2 ] with the former German Chancellor being ...
The World Bank has regularly failed to live up to its own policies for protecting people harmed by projects it finances. The World Bank and its private-sector lending arm, the International Finance Corp., have financed governments and companies accused of human rights violations such as rape, murder and torture.
On 25 August 2022, Pakistan declared a state of emergency because of the flooding. [6] The flooding was the world's deadliest flood since the 2020 South Asian floods [7] and described as the worst in the country's history. [8] It was also recorded as one of the costliest natural disasters in world history.
At the end of March 2022, the State Bank of Pakistan's reserves stood at $11.425bn, but they gradually tanked to an almost four-year low of $6.715bn on 2 December. Pakistan's foreign exchange reserves equal to just five weeks of merchandise imports. [44] The consistent depreciation of the rupee is said to be deepening the economic crisis. [45]