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Cash-strapped Pakistan Plans to Seek $15 Billion in New Loans to Pay External

The estimated $15 billion borrowings would be the best possible loans to be taken by means of the rustic in one year, highlighting the demanding situations that the federal government faces because of the deepening debt lure.

Pakistan is making plans to hunt $15 billion in new loans to go back its maturing exterior public debt and building up the reputable foreign currency reserves, the best possible quantity to be borrowed by means of the rustic in one yr, a media file stated on Sunday.

Out of the $15 billion estimated exterior borrowings in fiscal yr 2020-21, just about $10 billion might be used to go back the maturing loans, with the exception of passion bills, assets within the Ministry of Finance informed.
The paper reported that the remainder quantity will transform part of the exterior public debt that has already higher to $86.four billion as of March finish this yr.

The estimated $15 billion borrowings would be the best possible loans to be taken by means of the rustic in one yr, highlighting the demanding situations that the federal government faces because of the deepening debt lure

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