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Showing posts with the label Saudi Arabia

By 2023, When The Lausanne Treaty Expires, Can Turkey Rebuild Its Empire?

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                 The Treaty of Lausanne 11, which reduced the size of the contemporary Turkish state's territory and forced it to cede sizable portions of its own, has never been forgotten by the Turks. In light of Turkey's desire to get rid of the effects of the Convention and restore its rights, which the Allies had usurped, and the fact that Turkey believes the Convention's text is unfair to its rights, was it therefore not strange to hear Turkish President Recep Tayyip Erdogan address the issue during regular meetings with Turkish mayors? The Treaty of Lausanne of 1923, which was signed by the victorious Allies of the First World War, including the United Kingdom (Britain), Ireland, France, Russia, Italy, and Britain, established the modern Turkish Republic, noting that Britain had created several unjust and painful conditions to the rights of the Ottoman Empire. the declaration of a secular state, the abolishment of the caliphate, the exile of the caliph and his fami

Pakistan is on the Verge of Declaring Bankruptcy as the Country's Economic Situation Intensifies

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                 Despite ongoing talks between Islamabad and the International Monetary Fund (IMF) to recommence the USD 6 billion rescue package from the IMF, Pakistan is on the edge of bankruptcy as the country's economic status is facing a dismal future with no immediate bright outlook.   As of June 21, the Pakistani Rupee (PKR) had crossed the 212 USD mark. Pakistan, on the other hand, has fewer than six weeks' worth of import coverage left and its foreign exchange reserves have critically declined. Currently, the reserves are less than $9 billion, according to a Pakistan Tribune report.   Over the past year, the value of the Pakistani rupee has plummeted by a staggering 34% (or PKR 53.67). In June of the previous year, it ended at PKR 157.54. With a decline of around 16.5 percent (since December 31, 2001) against the US Dollar, the Pakistani Rupee has thus become Asia's "worst-performing currency in 2022," ranking last among a group of 13 peers that a