World Bank Report Debt To Pakistan Difficult Included In The World 10 Biggest Borrowers

Agency, Islamabad.

Published by: Dev Kashyap
Updated Thu, 14 Oct 2021 01:04 AM IST

Summary

According to the latest report, the contribution of the Imran government is 40 percent of the debt on Pakistan. In this situation, he may find it difficult to get a loan from the world. Pakistan has become eligible for the Debt Service Suspension Initiative (DSSI) after the COVID-19 pandemic.

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According to a World Bank report, neighboring Pakistan has joined the top 10 indebted countries that have the highest external debt. According to the report, he has become eligible for the Debt Service Suspension Initiative (DSSI) after the Kovid-19 epidemic. Because of this, it may now face difficulties in getting foreign loans.

Quoting International Debt Statistics for 2022 released by the World Bank, Pakistani newspaper The News International in its report said that there has been a wide variation in the rate of credit received by countries under DSSI, including large borrowers. According to DSSI, the world’s 10 largest borrowers include Angola, Bangladesh, Ethiopia, Ghana, Kenya, Mongolia, Nigeria, Pakistan, Uzbekistan, and Zambia.

Their combined external debt stood at $509 billion at the end of 2020, a 12 percent increase over 2019. This has been 59 per cent of the total external debt of all the countries covered by DSSI. Whereas according to the recent report, the contribution of the Imran government is only 40 percent of the debt on Pakistan. In these circumstances, he may find it difficult to get credit from the world.

Many more difficulties in getting loan
According to the World Bank report, an 8 per cent increase in foreign debt shares for Pakistan supports the stoppage of payments from commercial banks and new credit lines. Apart from this, net inflows from other private creditors into Pakistan also increased by 15 per cent to $14 billion in 2020. While FDI inflows fell marginally to $1.9 billion. In such a situation, it will not be easy for Pakistan to get a new loan.

Expansion

According to a World Bank report, neighboring Pakistan has joined the top 10 indebted countries that have the highest external debt. According to the report, he has become eligible for the Debt Service Suspension Initiative (DSSI) after the Kovid-19 epidemic. Because of this, it may now face difficulties in getting foreign loans.

Quoting International Debt Statistics for 2022 released by the World Bank, Pakistani newspaper The News International in its report said that there has been a wide variation in the rate of credit received by countries under DSSI, including large borrowers. According to DSSI, the world’s 10 largest borrowers include Angola, Bangladesh, Ethiopia, Ghana, Kenya, Mongolia, Nigeria, Pakistan, Uzbekistan, and Zambia.

Their combined external debt stood at $509 billion at the end of 2020, a 12 percent increase over 2019. This has been 59 per cent of the total external debt of all the countries covered by DSSI. Whereas according to the recent report, the contribution of the Imran government is only 40 percent of the debt on Pakistan. In these circumstances, he may find it difficult to get credit from the world.

Many more difficulties in getting loan

According to the World Bank report, an 8 per cent increase in foreign debt shares for Pakistan supports the stoppage of payments from commercial banks and new credit lines. Apart from this, net inflows from other private creditors into Pakistan also increased by 15 per cent to $14 billion in 2020. While FDI inflows fell marginally to $1.9 billion. In such a situation, it will not be easy for Pakistan to get a new loan.