PAKISTAN IS IMMERSED IN DEBT FIGURES, FIGURES WILL SURPRISE YOU : New Delhi: These days Pakistan is making a lot of noise about the Kashmir issue in the world. He is pretending that there is no other serious issue in his country other than Kashmir. From time to time, he also keeps threatening India with war. But Pakistan’s economy is like a mirror for him. Which shows its serious internal challenges. Pakistan is under heavy debt. This can be gauged from the fact that Pakistan has to pay almost double amount to China in the next three years as compared to International Monetary Fund (IMF).
According to a report by the news agency Bloomberg, Pakistan has to pay $ 6.7 billion to China by June 2022. This figure has been given by the IMF, which has recently given a big bailout package to Pakistan. Pakistan has to repay the IMF loan of $ 2.8 billion in the next three years. It is noteworthy that Pakistan has long relied on China and IMF to meet its financial needs.
Pakistan is one of the largest beneficiary countries of China’s Beld and Road Initiative and continues to take loans from China in times of financial crisis. However, the funding from China does not meet its financial needs. Because of this, he has to knock on the doors of the IMF. According to a report by the State Bank of Pakistan, the debt on Pakistan has increased to 40.2 trillion Pakistani rupees. It has increased by 10.3 trillion Pakistani rupees compared to last year. Many experts in Pakistan are now considering China-backed schemes as a burden for the country. PAKISTAN IS IMMERSED IN DEBT FIGURES, FIGURES WILL SURPRISE YOU