Our Pakistan waged a war due to the demolition of the terrorist hideout, but it would have to bear such a consequences that it would take decades for Pakistan’s economy to get back. This has passed a few months when Pakistan was facing a crisis of bankruptcy. He was also losing money to pay interest of debt. On the other hand, foreign exchange reserves were only left that it would have been useful in imports for a few days. Pakistan was trying to overcome the situation that the war broke out.
Pakistan is asking for debt from the world
There is heavy firing between India and Pakistan. Large weapons like cannons, fighter planes, drons, missiles are being used. Pakistan, which is already struggling with a bad economic situation, is not in the hall to bear the cost of a long war. The condition is that it is just the third day of this struggle that Pakistan has started asking for debt from the World Bank. The Pakistani government is publicly demanding money from the world on social media. The Economic Affairs Division of the Government of Pakistan wrote in a post on X, ‘After the huge losses by the enemy, the Government of Pakistan appeals to international partners to give more loans. We urge international partners to help reduce stress amid growing war and steep decline in stock market. However, Pakistan claims that its account was hacked.
Treasury ending
Pakistan came close to default in 2022. In March this year, Pakistan got an IMF Belite Package with a loan of $ 2 billion. Due to this, the Pakistani economy had received some relief sigh of relief that the current struggle has spoiled everything. Credit rating agency Moody’s has also said that if the struggle progresses, Pakistan’s economic situation will become very bad. Moody’s said that the current condition will reduce Pakistan’s access to foreign debt. Also, there will be a lot of pressure on the country’s foreign exchange reserves. Air traffic has reduced greatly in Pakistan for a few days. Many foreign airlines have also stopped going to Pakistan airspace. This has caused heavy losses to Pakistan as foreign currency.
Huge debt
Pakistan is burdened with debt burden. By December 2024, Pakistan’s external debt reached $ 131.1 billion. Talking about Pakistan’s foreign exchange reserves, it is just $ 15.48 billion. It is declining rapidly due to the empty aircraft of Pakistan.
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