‘Pakistan’s debt burden mounts to $63.966 bln’
ISLAMABAD: Pakistan’s International debt burden continued to rise and reached a whopping Rs 63,966 billion, at the end of August in FY2023-34, ARY News reported on Monday, citing sources. Sources stated that a briefing session related to the country’s debt was held, during which it was revealed that the foreign debt had surged to $24,174 billion by the end of August, while the local debt had reached Rs 39,791 billion by the same period. The data presented in the briefing showed that, over the past year, the total loans had witnessed a massive increase of Rs 14,506 billion. It is pertinent to mention here that, in August 2022, the volume of loans was a comparatively modest Rs 49,571 billion. However, the foreign debt of the country stood at $18 trillion, meanwhile, the local debt was stood at Rs 32,152 billion during the same time period. READ: Pakistan received $3.49bn loan in three months of FY23-24 Earlier to this development, the International Monetary Fund (IMF) has demanded ...