At the end of the first half of September in Pakistan there were several floods in several regions of the country. Damage from the disaster could reach $30 billion, Bloomberg reported.

Floods in Pakistan have already claimed the lives of 1,486 people and affected a total of 33 million citizens. Millions of homes have been destroyed and the damage could grow to $30 billion, the material says.

Authorities in the Asian country are not optimistic and forecasts of heavy rains in Madhya Pradesh, a state in neighboring India. The deluge could raise water levels in some rivers in Pakistan and cause more flooding as early as Saturday, Sept. 17.

More than a third of the South Asian country, already suffering from shrinking foreign exchange reserves and the highest inflation in decades, is under water. More than 70 percent of Sindh's rice crops have been damaged, Bloomberg claims.

All of these factors may lead Pakistan's economy to default. The country's authorities have already received $1.16 billion in financial aid from the International Monetary Fund to prevent the negative consequences of large-scale floods.

On August 28, analysts of Pakistan's National Disaster Management Authority presented data according to which the number of flood victims in the country exceeded a thousand people. In addition, another 1,527 citizens were injured.