Part 5/8:
The inflation surge obliterated family savings, and thousands of citizens lost their jobs, plunging the country into a dire state. Just as there seemed to be prospects of recovery, the country was struck down by the COVID-19 pandemic, overlapping its already existing vulnerabilities.
Corruption within the system only added to the economic malaise, and today, Seram faces the dual challenge of mismanagement and overdependence on oil revenues.
The Path Forward
Recognizing the mistakes of the past, Seram is now charting a path toward recovery that addresses its pressing economic issues. The immediate goal focuses on stabilizing the economy by getting debt and inflation under control.