Posted similar to the following in another thread.
For all PPP PMLN LOVERS: Pakistan has to return large part of their borrowed foreign debt amounting to 27 billion Dollars in two years time when it becomes due...
27 billion Dollars due in one go.
Kudos Ishaq Dar!!!
But wait...that's in 2 years time...what about now...the unprecedented burden on economy at the moment?
Other than the principle amount borrowed by PPP and PMLN, Just the due interest being paid at the moment is 7 billion daily X 30 X 12 and you can do the math.
Kudos Ishaq Dar!!!
What else can this government do in short term than borrow more to return just the interest? Despite that principle amount largely stands unpaid.
Kudos Ishaq Dar!!!
Here is a short history of what was the hay days of remarkable Ishaq Dar:
In June 2013, the public external debt including foreign exchange liabilities was only $53.4 billion.
The public debt-to-gross domestic product (GDP) ratio was touching 70% by the end of fiscal year 2018 in June. This ratio is far higher than the sustainable levels for any country, let alone Pakistan.
In June 2018, the public external debt stood at $95.1 billion Dollars. By the time PTI took over power, the debt was already hitting $97 billion mark.
Caretaker Government of Pakistan borrowed from China just to hold 2018 Elections
Kudos Ishaq Dar !!! Kudos to PMLN!!!
Let's bring them back!!!
The problem with anti PPP and anti PMLN awaam like myself is that when we criticise PTI for its mismanagement and inexperience (which was expected even before elections), those who have re-elected PPP and PMLN for more than 3 decades to bring Pakistan to its economic knees, that lot starts having a field day with childish idiosyncrasies like "inn say tu corrupt achchay thay"...not by a long shot.
It will be a miracle if Pakistan gets out of this economic quagmire anytime soon, no matter who is in power.
PPP and PMLN leaders are economic terrorists who drowned Pakistan in unprecedented debt. Period.