Pakistan faces daunting challenges as it enters 2022

Pakistan faces daunting challenges as it enters 2022

Pakistan has increasing national debt, waste of national resources, a burgeoning population and faces rising unemployment.
International organisations' data suggests Pakistan tops list of 73 states eligible for World Bank's Debt Service Suspension Initiative.
Pakistan raises Rs14 billion of loans every day to cover its expenses, which has increased its domestic and external debt to $280 billion.

ISLAMABAD: Pakistan faces the daunting task of reducing the troubles of a massively increasing national debt, waste of national resources, a rapidly growing population, rising unemployment, and inadequate health and education facilities, as it enters the new year — 2022, The News reported.

As per the data gathered from World Bank, UNICEF, Economic Survey, International Diabetes Federation, UNAID and SBP, Pakistan ranked first among the top 10 countries with the highest external debt of $127 billion, out of the 73 states eligible for the World Bank's Debt Service Suspension Initiative. The list of the top 10 countries include:

Nigeria, Bangladesh, Angola, Kenya, Mongolia, Uzbekistan, Ghana, Ethiopia, and Zambia. These are countries next to Pakistan on the list.

With Pakistan raising Rs14 billion worth of loans every day to cover its expenses, the country's domestic and external debt has hiked up to $280 billion (Rs50,000 billion), which accounts for 94% of its GDP.

Pakistan’s sitting government has added Rs20,000 billion during its term with a rising debt of $127 billion.
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Видео Pakistan faces daunting challenges as it enters 2022 канала Geo News