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The Pakistani rupee has continued to depreciate steeply, as it hit an all-time low of Rs 269.10 against the US dollar in the interbank market, on January 30.
Global inflation remains at sky-high levels after energy and food costs rocketed last year following the invasion of agricultural powerhouse Ukraine by major oil and gas producer Russia.
Russia warns Germany to not confiscate its assets and their subsequent transfer to Ukraine may create a dangerous precedent in international law, Vyacheslav Volodin, the speaker of the State Duma, Russia’s lower house of parliament, has claimed.
Despite tall claims of reforms, not much has changed. In fact, there has been an unprecedented decline in the state apparatus since July 1977 after the civilian rule was toppled by the third usurper, writes Dr. Farid A. Malik, ex-Chairman of the Pakistan Science Foundation.
China may be willing to back up Russia if it stands to gain economically from doing so, however, China has and will avoid needlessly antagonizing the West, which is the essential market for its goods.
Moscow is aware that it’s the only actor with the capabilities to help avert the worst-case scenario of Pakistan’s collapse which could in turn destabilize South Asia and thus endanger the security of Russia’s strategic partners in India.
The country – in its polity and its population – remains a confused entity. For a state to become a state, its nation has to be progressive, demanding, competitive, and innovative.