Pakistan Economic Crisis: Pakistan is going through the worst economic situation in its 75 years of history. The country has a steady stream of foreign exchange reserves (Pakistan Forex Reserves). In such a situation, he has taken huge loans from different countries of the world like China, Saudi Arabia etc. Now Pakistan has to repay the old loan taken. According to the report published in The News International, by the end of July, Pakistan has repaid a total debt of $ 2.44 billion, for which it does not have foreign exchange. Out of this $2.44 billion, China has to pay $2.07 billion and Saudi Arabia $195 million.
How will Pakistan repay the debt of China and Saudi influence?
Significantly, Pakistan also has to return the safe deposit of $ 1 billion to China. In such a situation, Pakistan has to return a total loan of $ 3 billion to China by July. Pakistan and China are talking among themselves to extend the date of payment of this loan. It has also been informed in this report that apart from all these amounts, Pakistan will also have to pay a fine of $4 million to China. Apart from this, he will also have to take a loan of $ 40 million for Euro bonds. Apart from this, Pakistan also has to repay a loan of $ 2.85 million to France and $ 4.57 million to Japan.
IMF also has to pay
Apart from different countries, Pakistan has to pay the next installment of loan to the International Monetary Fund. In this, the outstanding amount of $ 189.67 million has to be returned. Out of this, $165.02 million is the principal amount and $24.65 million is interest. Apart from this, the country owes a total loan of $ 149.41 million to many international banks like Asian Bank, World Bank in the month of July.
Will the country go bankrupt?
It is worth noting that it is a big challenge for Pakistan that how will it repay all these loans because the country has a huge shortage of foreign exchange reserves. In such a situation, the Shahbaz Sharif government is trying to extend the date of loan payment by negotiating with different countries. Along with this, along with China, Pakistan is engaged in trying to restructure its debt once again. In such a situation, it will be interesting that in the coming days, how will Pakistan repay its debt or will it become bankrupt.
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