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RIYAL INCREASED TODAY/ RIYAL RATE IN PAKISTAN INDIA BANGLADESH NEPAL BY CLOUDY MALAKAND/ SAUDI RIYAL
Saudi riyal rate

RIYAL INCREASED TODAY/ RIYAL RATE IN PAKISTAN INDIA BANGLADESH NEPAL BY CLOUDY MALAKAND/ SAUDI RIYAL

The total volume of foreign and domestic debt owed by Pakistan has increased to 25 253 billion while the total debt in Pakistani currency has increased to Rs. 39,859 billion.

In the last year 2020-21, Pakistan’s outstanding debt has increased by Rs 3,461 billion. According to the federal government, the main reasons for the increase in debt are higher-than-estimated federal fiscal deficit, issuance of less-than-targeted Sukuk bonds due to non-availability of assets, and a large amount of cash in prize bonds. Existing savings include the non-fulfillment of government privatization targets.

The Ministry of Finance has released the latest details of the total debt owed by Pakistan till June 30, 2021, stating that the volume of Pakistan’s foreign and domestic debt in US dollars is 3 253 billion out of which Pakistan’s total foreign debt is 86 86 billion. And Pakistan’s total domestic debt is 7 167 billion. Of the total loans, foreign loans accounted for 34% and domestic loans for 66%. Total foreign loans accounted for 74.9% of GDP.
According to the report, Pakistan borrowed 7. 7.38 billion from the IMF, 10. 10.72 billion from the Paris Club and 33 33.83 billion from multilateral, عالمی 18.13 billion from the World Bank and 13 from the Asian Development Bank. 4 42 billion. According to the Ministry of Finance, all loans are estimated at Rs 157.3 per dollar.

Economists say that since June 30, the rupee has depreciated sharply and the dollar has crossed Rs. More than Rs. 1,213 billion has been added. During the first quarter of the current financial year, the rupee depreciated by Rs 12.7 per dollar against the dollar.

According to a report by the Ministry of Finance, during the last financial year 2020-21, the federal government relied heavily on the local debt market to meet its fiscal deficit, and 64% of the federal fiscal deficit was met through loans from the local market. To cover the fiscal deficit, the government issued and rolled over new guarantees amounting to a total of Rs 105 billion, equivalent to 0.2 percent of the country’s GDP, during the last financial year.

According to the report, Pakistan’s outstanding domestic debt was Rs 20,732 billion as of June 30, 2019, which has increased to Rs 23,283 billion by June 30, 2020, and Rs 26,265 billion by June 30, 2021.

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