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Debt relief for developing countries

Many developing and low-income countries are under debt distress, and a few of which are also facing food crisis as well. This is an extremely grave situation, and it is…

Surging govt debt

The statistics on total debt of Pakistan as of end-December 2022 has been released recently by the SBP (State Bank of Pakistan). It stands at Rs 63.9 trillion. This implies…

Debt relief for developing countries

When the Covid pandemic was declared by the World Health Organization (WHO) back in early 2020, a number of developing countries were already facing a difficult debt situation, which continued…

Does Pakistan need domestic debt restructuring?

There is growing consensus over the need for debt restructuring within the policymaking community. However, many analysts are casually selling the idea of domestic debt restructuring without fully recognizing the…

Debt, inequality and austerity

In most western countries, inequality is rising, and social mobility has stalled. Our citizens are losing purchasing power. They are struggling to find a decent job, to buy a proper…

Breakdown of external economic relations

The fact that Pakistan is currently operating under an IMF (International Monetary Fund) programme, under the Extended Fund Facility (EFF), should have been a source of comfort to external sources…

Debt rescheduling challenge

The country is going through a very difficult balance of payment (BoP) situation. The core of the problem is growing external public debt and its repayment. A reduction in current…

Pakistan in deep debt trap

Pakistan’s precarious financial situation, persisting for the last many decades, has landed it into a deep debt trap where an overwhelming part of tax revenue is consumed in debt servicing…