Pakistan's Debt Rises Over USD15 Billion, Surpassing Previous Year's Record
Pakistan took out 15.32 billion US dollars in new foreign loans in the fiscal year 2020-21, according to a new government report.
Editorial Staff
Pakistan's Debt Rises Over USD15 Billion, Surpassing Previous Year's Record Pakistan took out 15.32 billion US dollars in new foreign loans in the fiscal year 2020-21, according to a new government report. The Pakistani rupee has depreciated 30.5 per cent against the US dollar in the last three years and four months under the current government of Pakistan Prime Minister Imran Khan . According to a new official data, Pakistan took out 15.32 billion dollars in fresh foreign loans in fiscal year 2020-21, shattering the previous record of 10.45 billion dollars. According to The Express Tribune, the current government has nearly doubled Pakistan's external debt in just three years, adding 35.1 billion US dollars to the total, bringing the total to an incredible 85.6 billion US dollars. According to The Express Tribune, a report issued by the Ministry of Economic Affairs stated that new debt was added "to mitigate the pressure on the current account deficit, strengthen foreign exchange reserves, enhance external debt servicing capacity, and provide necessary …
