Pakistan debt has reached a historical level of Rs 12,024 billion while once Pakistan was an emerging economy with the highest GDP in Asia, the financial situation was so strong that 50 years ago Pakistan gave loan to Germany.
Old documents from Ministry of Finance reveal that in 1963 Pakistani economy was running so smoothly that President Ayub Khan approved a loan of Rs. 120 million to Germany for a period of 20 years.
British newspaper ‘The Guardian’ reveals that it was not the first time that Pakistan provided loan to Germany rather in 1953 when it required loans immediately after Second World War for reconstruction of the country Pakistan was among those countries that helped Germany.
Today Germany has become one of the largest economies of the world, it is ranked fourth with a GDP of $ 3.747 trillion on the other hand Pakistan has become a failed economy that has to seek loan each year to pay the interest on the previous loans.