, Columnist
Pakistan Could Have Averted Its Climate Catastrophe
Decades of corruption and underinvestment have led to this moment. Only significant expenditure can avoid another disaster.
A challenge to humanity.
Photographer: Asif Hassan/AFP/Getty Images
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If you’re looking for an emblem of why Pakistan will struggle to recover from the floods that have killed more than 1,000 since June, consider its latest bailout from the International Monetary Fund agreed Monday.
The infusion of $1.16 billion might help unlock enough cash to get the country through the next couple of years — but the floods themselves have caused more than $10 billion of damage, much of which will end up boosting the country’s $255 billion in debt.