How alarming it is that the International Monetary Fund (IMF) has cautioned Pakistan authorities that "the materialization of risks to the economic outlook could erode Pakistan's capacity to repay to the Fund, particularly in a context where Fund exposure is expected to increase further."
According to a Business Recorder news item, "the IMF seventh staff review further notes that the Fund's exposure to Pakistan increased with the disbursement made upon approval of the sixth review, reaching SDR 2.7 billion (about US $3.8 billion) six percent of total external debt by end-March 2015 and this exposure is expected to increase further over the next 12 months as new EFF programme disbursement are made."
On domestic front, citizens learn that the federal government intends to borrow a huge amount of Rs 1.35 trillion from the domestic banking system during the first quarter of (July-Sep) of this fiscal year 2015-16 to meet fiscal deficit.
The government, it appears, is on a borrowing spree, adding to country's debt burden. It can't fix a weak economy. Period.
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