US Scholar/Economist - Atif Mian warns the $350 billion *economy is in a “tailspin, going from crisis to catastrophe* ". The State Bank of Pakistan (SBP), a day earlier, raised its benchmark interest rate to a record 21% as inflation quickened by a fresh record in March months after authorities raised taxes and energy prices and allowed the currency to depreciate to meet IMF conditions and revive a $6.5 billion programme. “The *system is coming hinged* ,” Mian said, elaborating that this can be seen in the increasing stagflationary forces — growth is rapidly falling, and prices are rapidly rising. *Inflation is not only being fueled by large deficits and money printing* , but foolish policy choices that have seriously impacted the *productive capacity of the economy* *Judiciary, politicians, and generals* — in the last couple of years have *witnessed a level of chaos, infighting, and jostling for selfish power grabs* that have brought the country to this catastrophe,” he said, while referring to the ongoing political and constitutional crises in the country. While the *coalition government is struggling to woo the IMF to release the next tranche* following which Pakistan will be able to secure funding from other multilateral and bilateral donors. However, with *_inflation at all-time high and foreign currency reserves barely enough to cover a month of imports the people teeter to make ends meet_*