{"id":16286,"date":"2020-07-02T14:45:00","date_gmt":"2020-07-02T11:45:00","guid":{"rendered":"https:\/\/vastuullisuusuutiset.fi\/?p=16286"},"modified":"2020-07-02T14:45:29","modified_gmt":"2020-07-02T11:45:29","slug":"pakistan-central-bank-governor-says-coronavirus-lockdowns-are-a-luxury-of-the-rich","status":"publish","type":"post","link":"https:\/\/vastuullisuusuutiset.fi\/fi\/weben\/pakistan-central-bank-governor-says-coronavirus-lockdowns-are-a-luxury-of-the-rich\/","title":{"rendered":"Pakistan central bank governor says coronavirus lockdowns are a \u2018luxury of the rich\u2019"},"content":{"rendered":"

The coronavirus pandemic is a public health crisis and until it\u2019s addressed, there will most likely be economic hardships ahead, Pakistan\u2019s central bank governor told CNBC.<\/p>\n

Pakistan has reported more than 213,000 cases of infection and nearly 4,400 people have died.<\/p>\n

\u201cWe are very concerned. First and foremost, this is a public health crisis \u2014 we have to remind ourselves of that,\u201d Reza Baqir said on CNBC\u2019s \u201cStreet Signs Asia\u201d on Wednesday. \u201cAnd, only on a secondary basis, then it becomes an economic crisis. Until the public health crisis is addressed, we should continue to expect challenges on the economic front,\u201d he added.<\/p>\n

Prime Minister Imran Khan\u2019s government lifted a two-month-long lockdown in early May, a few weeks before an important festival. As millions were struggling with starvation during that time of drastically reduced economic activity, the country\u2019s Covid-19 cases surged once the lockdown was eased, Reuters reported.<\/p>\n

At the moment, the government is targeting coronavirus hotspots in the country and locking those areas down.<\/p>\n

Baqir explained that prolonged national lockdowns are a \u201cluxury of the rich.\u201d \u201cFor countries like Pakistan, the trade-off between lives and livelihood is a very real trade-off,\u201d he said. The country has many day laborers who earn daily wages and lockdown would abruptly cut off their source of income. Without having a savings pool to dip into, many of those people would be looking at starvation, according to Baqir.<\/p>\n

He outlined the three considerations in Pakistan\u2019s response to the crisis.<\/p>\n

First, he highlighted that before the virus struck, the country\u2019s economic fundamentals was improving \u2013 such as bringing down its current account deficit, which was a core part of its economic problems. Second, its fiscal and monetary policies are \u201cprudent,\u201d and finally, Pakistan is working with international financial organizations like the IMF and World Bank to keep its economy afloat.<\/p>\n

Source: CNBC<\/a><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

The coronavirus pandemic is a public health crisis and until it\u2019s addressed, there will most likely be economic hardships ahead, Pakistan\u2019s central bank governor told…<\/p>\n","protected":false},"author":2,"featured_media":26456,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":null,"_FSMCFIC_featured_image_hide":null,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[40],"tags":[272,4669,410,3034],"class_list":["post-16286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-weben","tag-economy","tag-income","tag-lockdown","tag-pakistan","wpcat-40-id"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/vastuullisuusuutiset.fi\/wp-content\/uploads\/2020\/10\/rsz_vaulogo.jpg?fit=100%2C58&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/vastuullisuusuutiset.fi\/fi\/wp-json\/wp\/v2\/posts\/16286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vastuullisuusuutiset.fi\/fi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vastuullisuusuutiset.fi\/fi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vastuullisuusuutiset.fi\/fi\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/vastuullisuusuutiset.fi\/fi\/wp-json\/wp\/v2\/comments?post=16286"}],"version-history":[{"count":1,"href":"https:\/\/vastuullisuusuutiset.fi\/fi\/wp-json\/wp\/v2\/posts\/16286\/revisions"}],"predecessor-version":[{"id":16289,"href":"https:\/\/vastuullisuusuutiset.fi\/fi\/wp-json\/wp\/v2\/posts\/16286\/revisions\/16289"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vastuullisuusuutiset.fi\/fi\/wp-json\/wp\/v2\/media\/26456"}],"wp:attachment":[{"href":"https:\/\/vastuullisuusuutiset.fi\/fi\/wp-json\/wp\/v2\/media?parent=16286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vastuullisuusuutiset.fi\/fi\/wp-json\/wp\/v2\/categories?post=16286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vastuullisuusuutiset.fi\/fi\/wp-json\/wp\/v2\/tags?post=16286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}