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Islamabad: Like Sri Lanka, Pakistan is also facing severe economic crisis due to lack of foreign exchange.
Our neighbor Pakistan’s foreign exchange reserves have fallen to single digits. At the same time, it is forced to pay back foreign debt, so it copes by borrowing US dollars at high interest rates. The International Fund had announced that it would provide a loan of 7,500 crore rupees to Pakistan. But Pakistan did not pay due to non-fulfillment of certain conditions. As a result, Pakistan bought dollars from China at high interest rates last month to repay its foreign debts. 17 thousand 250 crores worth of Indian rupees, Pakistan has received high interest from China.
Pakistan has been facing severe economic crisis due to decline in foreign exchange reserves, rise in prices, depreciation of Pak and Rupee against the dollar. In the coming months, the crisis over the repayment of foreign loans risks deepening. As a result, it is in the hands of the government led by Prime Minister Shahbaz Sharif to prevent Pakistan from going bankrupt like Sri Lanka, according to economists.
Our neighbor Pakistan’s foreign exchange reserves have fallen to single digits. At the same time, it is forced to pay back foreign debt, so it copes by borrowing US dollars at high interest rates. The International Fund had announced that it would provide a loan of 7,500 crore rupees to Pakistan. But Pakistan did not pay due to non-fulfillment of certain conditions. As a result, Pakistan bought dollars from China at high interest rates last month to repay its foreign debts. 17 thousand 250 crores worth of Indian rupees, Pakistan has received high interest from China.
Pakistan has been facing severe economic crisis due to decline in foreign exchange reserves, rise in prices, depreciation of Pak and Rupee against the dollar. In the coming months, the crisis over the repayment of foreign loans risks deepening. As a result, it is in the hands of the government led by Prime Minister Shahbaz Sharif to prevent Pakistan from going bankrupt like Sri Lanka, according to economists.