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Pakistan Debt Crisis Intensifies as Economic Mismanagement Continues Unabated Pakistan’s public debt went past 87% of GDP at the end of 2019-20, up from about 72% of GDP at the end of 2017-18, forcing the government to borrow afresh to pay old loans. A trader counts Pakistani rupee notes at a currency exchange booth in Peshawar. Photo: REUTERS/Fayaz Aziz/File Photo Last month, Malaysian authorities seized a Pakistan International Airlines Boeing 777 plane, with passengers still on board, at Kuala Lumpur airport for not paying leasing fees worth $15 million. The embarrassing incident became the subject of memes, derision, and despair in Pakistani media circles. Awkward as the incident was, the unpaid leasing fees are just the tip of the iceberg and Pakistan’s debt problem has been in the making for some years now. But it is in the past two years that the debt grew at a double-digit pace from Pkr. 32.1 trillion in November 2019, to Pkr. 35.8 trillion by November 2020, ex

Kuala lumpurSaudi arabiaJonathan teppermanImran khanHafeez sheikhGuilhem vellut flickrSakib sheraniInternational monetary fundPakistan international airlinesFund facilityChina development bankFinancial action task forcePakistan international airlines boeingFiscal policyDebt policy statementState bank