A Pakistani newspaper has claimed that the government of Imran Khan is planning to take a new loan of 15 billion dollars. Before this, the government has taken a loan of $ 40 billion in three years.
On the economic front, the challenges for the Pakistan government are increasing continuously. The condition of Pakistan is so bad that now it seems the government of Prime Minister Imran Khan will set a new record for taking loans. The Pak government is now planning to take a $ 15 billion loan in the current financial year 2020-21 to pay the foreign debt and strengthen its foreign currency reserves. This will be the second case within a year when the Pakistan government will take the maximum debt.
How Pakistan will spend 15 billion dollars
A Pakistani newspaper 'The Express Tribune' has written in a report quoting sources from the Pakistan Finance Ministry that it will take $ 15 billion of foreign debt in the financial year 2020-21. In this, about $ 10 billion will be made to pay back the maturity of the loan taken earlier. The report states that this amount is in addition to the interest payment. The remaining amount will become part of the country's external public debt. By the end of March this year, this amount has reached $ 86.4 billion.
IMF also gave $ 1.39 billion
Explain that Pakistan had requested help from the International Monetary Fund (IMF - International Monetary Fund) by citing the Coronavirus Pandemic. After this, the IMF gave a loan of $ 1.39 billion to Pakistan. Pakistan has also received this amount from the IMF.
Pakistan is suffering due to old debts
Taking a loan of 15 billion dollars in a single year shows the bad economic situation of Pakistan. The government here is constantly getting entangled in the debt trap. Imran Khan's Pakistan-Tehreek-e-Insaf government, like the previous government, has failed to increase exports and foreign investment. The brunt of this is being seen in the form of an increase in new debt with old debt.
Pakistan has taken a loan of 40 billion dollars
Pakistan's debt dependence can be gauged from the fact that between July 2018 to June 2021, the government here has taken a loan of 40 billion dollars. It is worth noting that out of this, a loan of about $ 27 billion will be used to pay back the old debt. After this, the remaining $ 13 billion will be added to external public debt.