IMF World Default Country List 2023: Is Pakistan Default Now? In recent years, the global economy has been unstable due to various reasons such as political instability, trade wars, the ongoing COVID-19 pandemic, and Ukraine Russian Conflict.
As a result, some countries have been struggling to pay their debts, leading to the question of whether they will default. Pakistan is one of the countries that have been in the spotlight, with many wondering if it will default in 2023. In this article, we will explore the default country list for 2023 and assess whether Pakistan is at risk of defaulting.
One of the Main reasons we want to mention here the Default risk of Pakistan in 2022 was 16.8% which is increased to 27.6% in January 2023 After the Regime Change in Pakistan.
World Default Country List 2023
The default country list for 2023 is a list of countries that are at risk of defaulting on their debts. The list is determined based on various factors such as debt-to-GDP ratio, inflation rate, political instability, and economic growth rate. According to the latest report by the International Monetary Fund (IMF), the following countries are at high risk of defaulting in 2023:
Is Pakistan Default?
Pakistan has been struggling with its debt repayments for several years, and its debt-to-GDP ratio has been steadily increasing. According to the latest report by the IMF, Pakistan’s debt-to-GDP ratio is projected to reach 91.2% in 2023, up from 87.9% in 2022. This indicates that Pakistan is at high risk of defaulting on its debts.
However, Pakistan’s government has taken various measures to address its debt crisis, including seeking financial assistance from the IMF, implementing austerity measures, and improving tax collection. In addition, Pakistan has also successfully issued Eurobonds worth $2.5 billion, which will help the country meet its debt repayments.
Despite these efforts, Pakistan’s economic growth rate has been slow, and the ongoing COVID-19 pandemic has further worsened the country’s economic situation. Therefore, while Pakistan has taken steps to address its debt crisis, it remains at high risk of defaulting on its debts in 2023.
The default country list for 2023 highlights the countries that are at high risk of defaulting on their debts. Pakistan is among the countries on this list, with a high debt-to-GDP ratio and slow economic growth rate. While Pakistan has taken measures to address its debt crisis, it remains at risk of defaulting in 2023. It is crucial for Pakistan’s government to continue implementing reforms and seeking financial assistance to prevent a default and ensure economic stability in the country.