Tag: foreign debt
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Pakistan’s debt burden surges by Rs14,506 billion in one year
Pakistan’s international debt burden has continued its ascent, soaring to a staggering Rs63,966 billion as of the conclusion of August 2023.
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Rising debt levels: Pakistan’s national debt surpasses Rs61 trillion
The federal government has witnessed a substantial increase in its total debt, which has surged to nearly Rs62 trillion. This significant escalation is primarily attributed to the government’s strategic borrowing from both domestic and foreign sources, a measure aimed at covering the fiscal deficit. According to The News, data from the State Bank of Pakistan…
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Pakistani rupee sinks to record low of Rs308 against US dollar in open market
On Tuesday, the Pakistani currency experienced a significant decline, reaching a new record low of Rs308 against the US dollar in the open market. This marked a 1 per cent decrease, or Rs3, from the previous day’s closing rate, as reported by the Exchange Companies Association of Pakistan.
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Pakistan takes money from China to pay back $1bn Saudi loan
Pakistan will return $1 billion to Saudi Arabia this week with the help from China that agreed to lend Islamabad $1-1.5bn on a short notice to pay back the Saudi loan. It may be noted here that Saudi Arabia had provided Pakistan a financial package, originally estimated at $6.2 billion, to help the government of…
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Pakistan repays $1 billion Sukuk bonds issued by PML-N govt
Pakistan has successfully reapaid a foreign debt of over $1 billion, shaking up the country’s foreign currency reserves on the day Moody’s rating agency upgraded Islamabad’s credit rating outlook to from ‘negative’ to ‘stable’, Express Tribune reported. According to the details, Pakistan on Monday has paid back around $1 billion on maturity of five-year international…