Dealing with the debt crises

​In his March 17, 2024 article "Dealing with the Debt Crisis," Dr. Hafiz Muhammad Usman Rana examines Pakistan's escalating external debt, which surged from $69 billion in 2015 to $131.15 billion in 2023, resulting in a debt-to-GDP ratio exceeding 70%. He emphasizes the necessity for the government to establish a transparent public debt management framework. This framework should mandate the annual disclosure of public debt data and implement rigorous processes for approving and executing resource-backed loans. Dr. Rana asserts that enhancing debt transparency is crucial for restoring economic stability and bolstering investor confidence.