Twirp: Terrorist Wahabi Islamic Rep Pakistan 5

[Naresh]

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[url="http://www.thenews.com.pk/daily_detail.asp?id=221976"]PIDE warns country may fall into debt trap[/url]

ISLAMABAD : Giving warning of plunging into the debt trap again exactly on the same line as in the decade of 90s, the Macroeconomic Brief released by the Pakistan Institute of Development Economics (PIDE) on Monday stated that external liabilities soared by almost $3 billion in the first three months of current fiscal 2009-10 and in the wake of persistent increase in external debt the country could face debt servicing difficulties.



“Pakistan’s external liabilities soared by almost $3 billion during the first quarter. This does not augur well for the fiscal balance in future. If the increase in external debt remains consistently unmatched by GDP growth and foreign exchange earnings, then Pakistan may once again face debt servicing difficulties, [color="#FF0000"]similar to that of the late nineties, when a major part of taxation revenues were being eaten up by debt servicing[/color],” stated the Macroeconomic Brief.

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