Introduction An official report from Pakistan’s Ministry of Economic Affairs has confirmed a critical shortfall in the government’s foreign funding efforts. The report, published on Tuesday, revealed that the government managed to secure only $426 million from international lenders in July, falling far short of the $9 billion in debt rollovers required to maintain financial stability. Debt Rollovers and IMF …
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Pakistan’s Debt Situation: A Deep Dive into the Finance Ministry’s Report
As of June 2024, Pakistan’s public and publicly guaranteed debt has soared to an unprecedented Rs74.6 trillion. This dramatic increase of Rs8.2 trillion, or 12.3%, from the previous fiscal year has pushed the debt-to-GDP ratio to a concerning 70.5%. This figure significantly surpasses the statutory limit of 57.5% set by the Debt Limitation Act, signaling potential trouble for the nation’s …
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