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Foreign Debt and its Implications for Pakistan9apos9s National Security

Author

Listed:
  • Rafaqat Islam

    (Faculty of Institute for Strategic Studies,Research and Analysis (ISSRA), National Defence University, Islamabad, Pakistan.)

  • Sarfraz Hussain Ansari

    (Assistant Professor, Department of Government and Public Policy, Faculty of Contemporary Studies, National Defence University, Islamabad, Pakistan.)

  • Shahzad Hussain

    (Assistant Professor, Department of Government and Public Policy,Faculty of Contemporary Studies, National Defence University, Islamabad, Pakistan.)

Abstract

National security implications of the rising government debt in Pakistan increase concerns about military powers such as the USA and industrial giants such as Japan. This paper examines the unprecedented rise and abundant use of debt by governments since 2008. Apart from economic sustainability risks of the debt, the paper also traces history of Pakistan’s search for national security since 1947. Pakistan achieved nuclear capability in the face of opposition from the USA. There are fears that in the presence of huge external debts and low capacity to service them, Pakistan may not be able to take independent decisions regarding national security. The paper offers recommendations to overcome the threats

Suggested Citation

  • Rafaqat Islam & Sarfraz Hussain Ansari & Shahzad Hussain, 2018. "Foreign Debt and its Implications for Pakistan9apos9s National Security," Global Regional Review, Humanity Only, vol. 3(1), pages 107-127, June.
    • Handle: RePEc:aaw:grrjrn:v:3:y:2018:i:1:p:107-127
    DOI: 10.31703/grr.2018(III-I).08
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    References listed on IDEAS

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    1. Ugo Panizza & Federico Sturzenegger & Jeromin Zettelmeyer, 2009. "The Economics and Law of Sovereign Debt and Default," Journal of Economic Literature, American Economic Association, vol. 47(3), pages 651-698, September.
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    More about this item

    Keywords

    Foreign Debt; National Security; Exacerbation; Sanctions; Legislation;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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