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Challenges
After a period of reasonable growth (2002-07),
Pakistan economy began experiencing severe
difficulties beginning late 2007 as the economy hit
by 4 crises:
– Unsustainable policy-induced imbalances in the
economy, leading to a macroeconomic crisis
– An external terms of trade shock, with the
extraordinary rise in food and prices in 2008
– The global financial crisis, which greatly amplified
the negative effects on the economy
– Intensification of war on terror
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