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Pakistan s external debt is likely to increase in the near future as it is under compulsion to borrow more and more every year to repay its outstanding external loans, finance its current account and build its forex reserves. Over the last 15 years or so, the country s external debt and liabilities have grown at a varying pace but no effort made during this period succeeded in containing the exponential increase in the burden, Dawn reported. This is evident from the over 150 per cent growth in foreign debt and liabilities to USD 116.3 billion from USD 45.4 billion at the end of Financial Year 2008. Moreover, Pakistan purchased nearly 63 per cent more debt or USD 12.13 billion in the first 11 months of the outgoing fiscal year compared to USD 7.4 billion the government had borrowed during the same period last year.

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