Loans given when GDP growth is consistently high will necessarily be based on relatively high growth assumptions. If there’s a sudden dip in growth, much of those loans then turn NPAs. Nobody could have predicted the crazy decision to cancel 86% of money in circulation!!
The crazy decision, fuelled by the desire to starve opposition parties of funds, killed demand, put sand in the supply chains and thus effectively stalled the growth engine. The reason for the job losses, the bank failures and the sputtering economy lies there. And nowhere else.
If #Demon had not killed demand and investment, growth would have continued apace and we wouldn’t be where we are today.
