The government must develop home-grown policies rather than donor-driven ones and must have guidelines for use of for-eign loans. The Institute of Policy Reforms has analysed the foreign borrowing trends of the last 20 years till fiscal year 2019-20. The Express Tribune has expanded the foreign borrowing data till March 2021 aimed at fully covering the current government’s tenure. The PTI government took $10.3 billion in foreign loans in the past nine months, including through Eurobonds. The result was that both the PTI and PML-N governments took pride in taking foreign loans to avoid looming default.

Source: The Express Tribune April 21, 2021 03:22 UTC