Imran Khan, the former Prime Minister of Pakistan, remains incarcerated in solitary confinement after two years. His financial discussions included the severe depreciation of the Pakistani rupee. A currency board was proposed as a potential solution to stabilize the economy, referencing its successful implementations in various countries. A currency board operates with convertible notes and coins against a foreign anchor currency, maintaining full reserves without discretionary monetary powers. Its implementation has a historical record of success, raising hopes for Pakistan's recovery.
"To pull Pakistan out of its doom loop and establish stability, I recommended the medicine that I had successfully prescribed in Estonia (1992), Lithuania (1994), Bulgaria (1997), and Bosnia-Herzegovina (1997)"
"A currency board issues notes and coins convertible on demand into a foreign anchor currency, such as the U.S. dollar, at a fixed exchange rate"
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