Debt loops and baby bonds

Pakistan runs two loops simultaneously, and both are making us poorer. The first is the household loop where inflation spikes, cash transfers top up, households consume through the shock, and the cycle repeats. The second is the sovereign loop, which borrows short, rolls over often, and pays the price in fragility every time global conditions tighten. Both loops are rational responses to their immediate constraints, and neither builds anything. A potential solution that addresses both at once...

By none@none.com (Ammar H Khan)