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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 plans to borrow $3.2 billion in one-year foreign debt, including a Saudi oil facility. Pakistan promised a $1.2 billion oil facility to Saudi Arabia, a $1 billion commercial loan to Dubai Islamic Bank, a $600 million loan to SCB and a $430 million loan to Islamic Development Bank’s ITSC. Conveniently obtained. The borrowing plan…