This view was predicated on reasonable balance of payments and real exchange rate calculations that seemed to imply that a 50 percent devaluation, in real terms, was more than enough. Therefore, if we ...

A balance of payments crisis is a broader concept that involves a shortage ... Furthermore, although most of the theoretical literature concentrates on attacks against a pegged exchange rate regime, ...

Pakistan’s external sector is under severe strain, with a persistent balance of payments crisis driven by chronic trade deficits, external debt pressures, and a volatile exchange rate.