Foreign Debt

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Foreign Debt

The debt one government owes to a foreign government or corporation. Foreign debt may occur when one buys the debts securities issued by another government. While foreign debt can be advantageous because it may allow a country to finance its development or other government functions, a government owing too much foreign debt (or too much debt generally) may find itself beholden to another country. It is also called external debt or international debt. See also: Debt crisis.
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References in periodicals archive ?
However, it called upon the government to use IMF loan for achieving sustainable development of the economy and evolve a new strategy to rid the country of foreign debts as Pakistan would never be able to achieve long-term economic growth without getting rid of debts burden.
Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan on Thursday criticised the joint declaration of the opposition - which gathered a day earlier on a multiparty moot to devise a joint strategy against the government - for opposing the recently-formed inquiry commission to probe the utilisation of foreign debts in the past decade.
A commission is proposed to be set up to probe 'a massive rise in foreign debts and misuse of loans, if any, during the last decade.' The proposed composition of the commission however indicates that the focus would be on investigating the 'misuse' of funds rather than reviewing policies responsible for the 'massive' surge in external debts.
Carpio, however, disputed the claim, saying the Philippines declared a moratorium on its foreign debt repayments in 1983 because the central bank did not have enough foreign exchange to pay its foreign debts.
But, I think, currently three problems have acquired immense importance and, therefore, need immediate attention by the present government These three problems are: population bomb, water shortage and foreign debts.
CAIRO, Feb 5 (KUNA) -- Egypt's Central Bank said Tuesday the country's foreign debts increased to around USD 93.1 billion at end of September 2018, growing by 0.5 percent, or USD 500 million, than June same year.
The Central Bank of Iran (CBI) announced last Monday that Tehran's total foreign debts reduced by 9 percent in the first six months of the current Iranian year (March 21 -- September 21), showing a significant slump as compared to the same period last year.
Before January 2011, the volume of foreign debts reached $36bn, and reserves $36bn as well.
ISLAMABAD -- Patron-in-chief of Pakistan Hindu Council Dr Ramesh Kumar Vankwani, in order to get rid of heavy foreign debts, has proposed to adopt a transparent mechanism for open auction of all property under the Evacuee Trust Property Board (ETPB).
Iran's foreign debts has increased by $412 million during the one-month period to Feb.
FILE: CBE bank CAIRO - 2 January 2018: Egypt has paid around $30 billion of its financial commitments and foreign debts during 2017 and is committed to paying more than $12 billion in 2018, according to an official source at the Central Bank of Egypt.
It marked the lowest level since the fourth quarter of 2006 when short-term foreign debts hit $113.7 billion.

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