The time has come for Pakistan to beg the world with a bowl. Its foreign exchange reserves have run out. In this backdrop, it is impossible for Pakistan to raise $2 billion by 17 April.
All countries in the world have a total debt of 102 trillion dollars (more than 8,000 lakh crore rupees).
The debt burden of Pakistan’s dwindling foreign reserves has created problems for the import-dependent country.
Sri Lanka’s cabinet announced the approval of the management transfer of the China-funded Mattala Rajapaksa International Airport (MRIA) to Indian & Russian firms for 30 years.
Selfish China takes advantage of the helplessness of developing nations. This shows how Nepal has self-destructed due to cooperation with China.
The International Monetary Fund (IMF) has told India that if the Government continues to borrow at the current pace, the country’s debt could reach 100% of the gross domestic product.
While the Pakistani populace grapples with starvation, the authorities are full of corruption. Consequently, global financial institutions such as the International Monetary Fund and the World Bank remain reticent in extending loans to Pakistan.
Pak Army Chief said that Pakistan is an influential and dynamic nation and it needs to become self-reliant.
Saudi Arabia’s General Authority of Civil Aviation has asked Pakistan’s state-owned aviation establishment, Pakistan International Airlines, to repay a debt of $4.8 million.