Pakistan’s debt burden up Rs63.399tr in FY23

Pakistan’s total debt burden continued to rise and reached a whopping Rs 63,399 trillion, at the end of November in FY2023-24.

According to details, country’s total debt increased by over Rs12.430 trillion during the tenure of the PDM and the caretaker government.

Pakistan’s overall debt burden surged to Rs63.390 trillion including Rs40.956 trillion domestic loan and Rs22.434 trillion in international loans.

The report further said the country’s overall debt stood at Rs50.959 trillion in November 2022. The burden of the loan was recorded at Rs63.390 trillion in November 2023.

Earlier it emerged that Pakistan assured the International Monetary Fund (IMF) of the fresh loan programme.

According to the Memorandum of Economic and Financial Table, Pakistan has assured to increase Pakistan’s foreign reserves to $13.6 billion in FY2024-25 to avail of the new loan programme from the international lender.

Pakistan will seek a rollover of $6.34 billion loan in the next financial year,  while the foreign investment will be jacked up by %1.31 bn, the MEFPT stated.

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