Floods Devastate Pakistan's Economy

As if things could get any worse for Pakistan: Its economy will take a serious hit after floods submerged over a fifth of the country, affecting over 20 million of its citizens who still lack clean drinking water and access to basic health care. Crop growers and peasants across the country have seen their livelihoods washed away, and infrastructure has been damaged as well. Agriculture represents 20 percent of the country's GDP, and experts cite crop loss at one billion dollars. President Asif Ali Zardari anticipates that it will take two years to reach out to farmers with crops, fertilizers, seeds, and food to help them get back on their feet. The World Bank, which will loan Pakistan $900 million, has projected that the fallout will be enormous, stating that housing, roads, irrigation, and agriculture have borne the brunt of the damage.