According to a report published in the Economic Times on Tuesday, it was stated that Pakistan would have to share some of the burden in case of a possible permanent default of Greece. Greece is edging closer to a 19-nation Eurozone exit, reportedly.
A permanent default by Greece would not only weaken the region, but will have overall consequences, around the world.
Greece defaulting would directly mean higher interest payments for other countries who have borrowed from the IMF, many of them far poorer than Greece according to a ‘Barclays’ note.
Similarly, countries that contribute to the IMF fund would also receive a …read more
Source: Pakistan Today
