ECONOMY: debt consolidation loan
The recent debate regarding Pakistan's likelihood of default necessitates a reexamination of the country's current debt and its accumulation over time. Without the nature of Pakistan's debt, the economy's story is incomplete. Pakistan's financial difficulties began after its independence in August 1947, when it needed financial assistance. The structural diagnosis of Pakistan's debt necessitates an in-depth comprehension of the policy interventions that set the nation on a debt trajectory as well as an investigation into the ways in which particular groups pushed the nation into debt in order to safeguard their own vested interests. At the time of Partition, the economies of India and Pakistan in South Asia were in a dire state. When India was a colony, Pakistan inherited approximately 33% of its army and 17% of its revenue. The budgetary priorities of subsequent governments were established by this inheritance. Since joining the first International Monetary F...
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