Islamabad [Pakistan], August 4 (ANI): A report by the Pakistan Federal Ministry of Economic Affairs disclosed that the previous government led by the Pakistan Peoples Party has borrowed the maximum from International Monetary Fund (IMF), with a loan of over USD 7.72, The Express Tribune reported.
This was revealed after the Federal Ministry of Economic Affairs released data showing which political party’s government in Pakistan borrowed the most from the International Monetary Fund (IMF) and which repaid the most loans and interest.
In a briefing to the National Assembly’s Standing Committee on Saturday, officials from the Ministry of Economic Affairs revealed that the Pakistan Peoples Party (PPP) borrowed over USD 7.72 billion from the IMF and was on the top of the list.
The Pakistan Muslim League-Nawaz (PML-N) ranked second, with a loan of USD 6.48 billion, while the Pakistan Tehreek-e-Insaf (PTI) came third, taking loans amounting to USD 6 billion, just USD 480 million less than the PML-N, according to The Express Tribune.
Meanwhile, in terms of repayments, the PTI government topped the list for the most interest paid, having paid USD 791 million in a single term.
Meanwhile, the PML-N government returned the most, with over USD 5.92 billion paid back to the IMF, putting it in the first position.
Officials informed the Standing Committee that during its tenure from 2008 to 2013, the PPP government borrowed over 5.23 billion in Special Drawing Rights (SDR) from the IMF, which amounts to more than USD 7.72 billion in US currency.
Consequently, the PPP is the leading party in terms of borrowing, reported The Express Tribune.
The statistics presented to the Standing Committee highlighted that the PPP government repaid over USD 3 billion of the IMF loan and paid more than USD 484 million in interest.
Similarly, during 2013 to 2018, the PML-N government borrowed 4.39 billion SDRs, translating to more than USD 6.48 billion.
During these five years, they repaid more than 4 billion SDRs, amounting to over USD 5.92 billion. The PML-N paid more than USD 317 million in interest during these five years.
However, from 2018 to 2022, the PTI government borrowed over 4.05 billion SDRs, which translates to approximately USD 6 billion in loans.
During this time, the PTI repaid 2.72 billion SDRs, equivalent to USD 4.02 billion in US currency.
Moreover, from 2018 to 2022, PTI topped the list of interest payments to the IMF, with payments of USD 791 million. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
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