New Delhi: The treasury of Pakistan is depleting rapidly and the debt burden is increasing on it. It has become difficult for Pakistan to repay its foreign debt and it looks like it may soon go bankrupt. Pakistan’s foreign exchange reserves have reached the verge of being exhausted. There are indications that Pakistan may also fail to save its economy like Sri Lanka. If he gets a big loan from any country, then perhaps his situation can improve for a few days, but its chances are less now.
According to the news of Pakistani media, the risk of bankruptcy in Pakistan has increased in the last two weeks. The State Bank of Pakistan has said that Pakistan owes $ 4.88 billion. Here the current account deficit of Pakistan is increasing rapidly. It is feared that by June 2022, Pakistan’s current account deficit will be $ 3 billion.
Foreign exchange reserves decreased from 20 billion to 10 billion dollars
A report in Pakistan’s newspaper The News said that in August 2021, the foreign exchange reserves were $ 20 billion, which has reduced rapidly to only $ 10 billion by May. The foreign exchange reserves with Pakistan have become empty. In the last 8 weeks, foreign exchange worth $ 6 billion has been exhausted from the State Bank. In such a situation, if Pakistan does not get big help, then it will go bankrupt.
No one can save you from going bankrupt
It has been said in the report that the budget deficit of Pakistan has become close to 5 trillion rupees while the current account deficit is 20 billion dollars. In such a situation, if Pakistan does not get help, then no one will be able to save it from bankruptcy. Unemployment may increase further in Pakistan.
