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External Debt of Pak, Debt-to-GDP Ratio Gets Alarming


LAHORE: Now that the International Monetary Fund (IMF) has predicted that Pakistan's external debt responsibilities would surge to $70.2 billion by end of the present fiscal, up from the $66.457 billion mark in the month of September 2015, alarming bells might surely have imitated ringing for the country's candid economic wizards to react to the condition. The IMF has also assumed that Pakistan's debt-to-GDP ratio is all set to touch the 65% mark within the next few months.

Growingly, not very long ago, few significant functionaries of the incumbent PML-N government had stated that the country's debt-to-GDP ratio had reduced to 59.1% in the month of October 2015 from a high of 64% in the year 2013.
Alternatively, the IMF estimates, calculations and projections are painting a very distinctive picture altogether.

Pakistan may yet not be the most indebted of countries, but its worse debt-to-GDP ratio tolerates ample testimony to the fact that economic managers of country, facilitating successive regimes, have not succeeded in starting suitable, detailed and timely fiscal/monetary reforms that were otherwise needed to raise revenues, restructure the loss-making Public Sector Enterprises and comprises the non-targeted subsidies dished out to the energy region.

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