World Bank report became a cause of embarrassment for Pakistan

World Bank report on pakistan

Islamabad: A new report of the World Bank has become a cause of embarrassment for Pakistan. It has been said in this report that Pakistan is among the 10 countries (10 nations with the biggest foreign debt), which have the highest foreign debt. According to Pakistani media news, Pakistan has become eligible for the Debt Service Suspension Initiative (DSSI) after the COVID-19 pandemic. Because of this, it may now face difficulty in getting foreign loans.
Citing the International Debt Statistics for 2022 released by the World Bank on Monday, it was told that there has been a wide variation in the rate of loans received by countries under the JDSI, including large borrowers.

The combined external debt of the 10 largest DSSI eligible borrowers (Angola, Bangladesh, Ethiopia, Ghana, Kenya, Mongolia, Nigeria, Pakistan, Uzbekistan, and Zambia) stood at $509 billion at the end of 2020, a 12% increase over 2019 And it was 59% of the total external debt of all the countries under the purview of DSSI.

World Bank report on pakistan

These countries under the purview of DSSI accounted for about 65% of the unguaranteed foreign debt by the end of 2020. Foreign loans were provided to these countries at different rates. Some time ago it was reported that the contribution of the Imran Khan government is 40% in the debt on Pakistan.