Pakistan in 2023

Abstract

Economic uncertainty, political instability, and security concerns marked 2023 as a year where the country desperately tried to survive. The year began with Pakistan on the brink of sovereign default, with depleting foreign reserves and soaring inflation. Although successful negotiations with the IMF averted economic catastrophe, political crisis seemed to replace the country’s economic woes. In the second half of 2023, following Imran Khan’s temporary arrest on May 9, political confrontation between the military and Pakistan Tehrik-e-Insaaf resulted in the worst democratic backsliding witnessed in recent years. Although Pakistan heads to the polls in the new year, it appears to be saddled by the weight of the political status quo.