Pakistan is facing a significant financial challenge, with the need to pay $7 billion to the IMF over the next five years, while its reserves stand at only $8 billion. The country is expected to repay $77.5 billion in debt over the next three years, which amounts to a quarter of its GDP. With a foreign debt of about $100 billion, Pakistan's debt is larger than that of Zambia, Sri Lanka, and Ghana combined. The IMF has indicated that no one desires an outright default, suggesting the critical nature of the situation.
If America can print money & go into more debt funding foreign countries, why can’t other countries just print money and go into more debt? Why do we have to go into more debt?
At about $100bn, Pakistan has more foreign debt than Zambia, Sri Lanka and Ghana combined, according to IMF data. No one wants an outright default! https://t.co/JdaI9Z5VOm
A quarter of Pakistani GDP to cover the next 3 years of debt repayment https://t.co/R170NtwYzF
$77.5 billion in debt repayment over the next 3 years for Pakistan
Pakistan needs to pay $7 bn to the IMF over the next 5 years, but has only $8 bn of reserves Where will it get the cash from? By getting "new money from the IMF, to repay the old money it got from the IMF," says @rezabaqir https://t.co/C2y2pZPKvw