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Pakistan is grappling with an escalating debt crisis, with China now being its largest creditor, holding nearly $29 billion in loans. A nation of 240 million people, Pakistan also ranks among the top three International Monetary Fund (IMF) loan recipients in 2023, as highlighted in the World Bank’s latest International Debt Report. The report reveals…
On November 7, 2024, a high-profile delegation from the World Bank, led by Ms. Vyjayanti T. Desai, Practice Manager for Digital Development in the South Asia Region, visited the headquarters of Pakistan’s National Database and Registration Authority (NADRA) to discuss advancements in digital development. This meeting focused on the Digital Economy Enhancement Project (DEEP), an…
Pakistan Foreign Loan Commitment: Short-Term Debt Strategy $3.2 Billion Short-Term Borrowing Plan Pakistan finalized a significant short-term debt plan. The country plans to borrow $3.2 billion externally. This borrowing is structured as one-year foreign debt. A key component is the Saudi Oil Facility (SOF). Pakistan secured $1.2 billion for the SOF. Other major funding came…