Economic managers say external debts
are used to finance the projects in the country, which will in return increase the income of the people and correspondingly will increase the savings.
According to the CBE, the volume of government's external debts
reached $47.648bn at the end of June 2018, equivalent to 51.4% of the total external debt
, and about 19% of the GDP.
A document obtained from the Debt Management Office (DMO), on Wednesday in Abuja, titled: 'States, Federal Capital Territory (FCT) and Federal Governments' External Debt
Stock as at June 30, 2018,' also detailed other states' external debts
"We will develop securities market and reduce external debts
. Today 94% of the public debt is external debt
, and 6.9% - internal debt.
The growing external debts
of developing nations persist to deter their socio-economic developments.
The countries have to hinge on internal or external debts
to finance the sizeable defense expenditures.
This paper examines the comparative analysis of the average level of external debts
between Democratic and Military Regimes in Pakistan for the time period of 41 years spread over1972 to 2012.
(2008) External Debts
, Growth and Peace in the Sudan: Some Serious Challenges Facing the Country in the Post-Conflict Era.
(2010), "External Debt
and Economic Growth: Empirical Evidence from Pakistan", International Research Journal of Finance and Economics, Issue 44, pp.
In the shaping of economic growth of any country, researchers revealed that external debt
plays both an optimistic as well as pessimistic role mainly in the developing countries.
THE latest data on external debt
that the State Bank released on Thursday paints a worrisome picture of the direction in which the economy is headed.