Warning! This country is facing a depletion of foreign exchange and a high risk of receiving payments to freight forwarders and shippers.
According to ONE Shipping Reuters, recently the Pakistani Ministry of Commerce stated that Pakistan has passed a special order allowing barter trade with Afghanistan, Iran, and Russia for certain commodities, including oil and natural gas.
Recently, official data from Pakistan showed that the year-on-year inflation rate in May reached a record high of 37.97%, putting the country on the brink of economic collapse and deadlocked key rescue negotiations.
Pakistan needs billions of dollars in financing to repay its staggering foreign debt, and its foreign exchange reserves have decreased to just over $4 billion, barely enough for a month's worth of imports.