Imran Khan, who came to power by promising Naya Pakistan, has buried the fleet of the neighboring country. Pakistan is facing the biggest economic crisis ever. To overcome this economic crisis, Pakistan, known for giving shelter to terrorists, needs outside help of 51.6 billion US dollars. So that he can meet the basic needs of his country in the financial year of two years (2021-23).
According to the report of The News International, the external financial requirements of the crippled Pakistan stood at US$ 23.6 billion in the year 2021-22, even after making a very cut-throat assessment by the International Monetary Fund (IMF). This is $28 billion in the fiscal year 2022-23. Pakistani officials are making final efforts to implement an employee-level agreement with the IMF to bridge the gap in external funding requirements.
It is to be known that recently in a World Bank report it was told that Pakistan has joined the list of top 10 countries in foreign debt. It was told in this report that now Pakistan has come under the purview of Debit Service Suspension Initiative (DSSI). This means that Pakistan now has so much foreign debt that it can no longer be lent.
The World Bank report says that Pakistan's foreign debt has increased by eight percent. In June this year, there was a report which revealed that the Imran government had taken a loan of United States of America $ 442 million from the World Bank. There are also the World Bank and the Asian Development Bank giving loans to Pakistan. With the help of these global lenders, the basic needs of Pakistan are met. These lending agencies may further reduce the rating of Pakistan in the future.
