Pakistan's interest expense accounts for over 50% of revenue in emerging economy, amid global debt reaching $315 trillion.
The Institute of International Finance (IIF) reports that Pakistan is set to spend above 50% of its revenue on interest payments, making it an emerging economy with the highest interest expense through 2026. Global debt has reached a record $315 trillion in Q1, driven by borrowing in emerging markets, the US, and Japan. Emerging market debt reached an unprecedented $105 trillion, with China, India, and Mexico contributing the most.
May 07, 2024
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