In FY20: Govt gets over $13b in foreign loans

[PakAlp]

Will Pakistan ever get out of this debt trap?
19Billion debt payments, Absolutely astonishing

 

[ejaz007]

Out of the $26.2 billion, $19.2 billion was used to repay the maturing external deb.

Not exactly. IMF and World Bank have already deferred debt service payment for one year. Government was taking credit for that and now new loans. This should have allowed some fiscal space. Oil is at its lowest price level in years. This should have reduced our largest import bill. Imports are down due to government imposing duties and taxes on imports.

Your logic could only work when they had taken loan in 2018 or 2019 when they could claim it was due to previous governments borrowing. Now it is their fault since they failed to introduce policies and incentives that would have helped economy recover.

They are taking the easy way put as was done by previous governments.

 

[HRK]

Not exactly. IMF and World Bank have already deferred debt service payment for one year.

Your logic could only work when they had taken loan in 2018 or 2019

Only If you have read the article carefully

including $26.2 billion by the government of Prime Minister Imran Khan since August 2018

deferred payments is offered after Corona only in April (or in May) 2020, so it will be used for next year fiscal operation not for this years, same can be observed If you read budget documents .....

 

[Shahzaz ud din]

IMF and World Bank have already deferred debt service payment for one year.

Any proof