Country’s external debt swells to record high

The external debts have reached a record high as Pakistan’s external borrowings have swelled by $9 billion in one year taking the external debt to a record $122 billion, reported 24NewsHD TV channel.

In a period of three years of PTI government, there has been an increase of $27 billion in external debt.

According to a statement of the State Bank of Pakistan on Monday, the country’s external debt exceeded $122 billion on June 30, 2021. A surge of $9 billion was recorded in the country’s external borrowing. 

The SBP stated that on June 30, 2020, the total external debt amounted to $113 billion which was swelled to $122.18 billion on June 30, 2021. 

In PTI government’s three years period, the volume of external debt has raised to $27 billion. Before PTI’s coming into power, the total amount of Pakistan’s external loans was $95 billion.

In the PML-N government’s tenure, the external debt was surged by $34 billion. Whereas, before the PML-N government the country’s total external loan amounted to $61 billion.

In the PPP government’s stint, $15 billion external borrowings were obtained and before the PPP government, the total amount of the country’s external debt was $46 billion. 

 Reporter Ashraf Khan