Tuesday, March 5, 2024

50 Years Ago Pakistan Gave Loans to Germany, Today Germany Economy is 10x Better than Pakistan

Pakistan’s current debt has reached a record high of Rs 12,024 billion, indicating a heavy financial burden. However, there was a time when Pakistan’s economic situation was very different. Old documents from the Ministry of Finance reveal that in 1963, President Ayub Khan approved a loan of Rs. 120 million to Germany for a period of 20 years. This shows that Pakistan’s economy was thriving to the extent that it could provide financial assistance to other countries.

According to the British newspaper ‘The Guardian,’ this was not the only instance where Pakistan offered loans to Germany. In 1953, after the Second World War, when Germany needed immediate loans for its reconstruction, Pakistan was among the countries that supported Germany.

In present times, Germany has become one of the largest economies globally, ranking fourth with a GDP of $3.747 trillion. On the other hand, Pakistan’s economic situation has deteriorated, and the country is struggling to manage its finances. Pakistan relies on borrowing each year to meet interest payments on previous debts. This striking difference highlights the significant changes in the economic paths of both nations over the years.

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