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Pakistan’s External Debt and Liabilities Increase to Over $600 Million

Pakistan’s External Debt and Liabilities Increase to Over $600 Million

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Earlier this year, Pakistan’s external debt and liabilities increased $600 million totalling to an incredible $106.9 billion.

This was announced after the first quarter of the fiscal year, (July-September) as Pakistan had to borrow more primarily from the International Monetary Fund to improve it’s international payment capacity.

The State Bank of Pakistan reported this increase on Friday. The figure grew exponentially this past year as it was previously at $96 billion in September 2018.

Given the improvement in Pakistan’s current account deficit and foreign reserves, it is likely that the economy has stabilised a little bit. The facilitation of domestic and foreign businesses will greater help economic growth in Pakistan.

The State Bank of Pakistan further reported that value of the Pakistani Rupee increased by Rs6.75 to Rs156.29 to the US dollar.

Keep up to date with more news at ProperGaanda: Smoking in public places to be banned in Pakistan