You are dumb as F. It’s useless to reply to your messages since your aim is not to listen but prove yourself right even if you are ignorant. I don’t have time to argue with you or make you understand so consider this my last reply. Did you pull these numbers out of you a-s?
Pakistan’s external debt is approx 130 Bn. Source : Pakistan Total External Debt - 2022 Data - 2023 Forecast - 2002-2021 Historical
Do you even know how bond markets work? The interest is not 13% but more than 50%. According to your logic, it must be very lucrative but it’s not not. You need to learn the basic of financial markets because opening your big mouth.
E.g
Bond value + interest = $1
Overall value of the bond (bond + interest) always remain the same
If bond value + interest = 99% + 1% =$1 than its stable and attractive because interest is low (it can also be negative) but if bond value + interest = 87% + 13% = $1 than it means high probability of going default.
Higher interest rate means higher chance of default. Like you said, Pakistan bond interest rate is highest in history so it means market thinks it is most likely to get default.
You are right. Okay dummies can understand how you understand the bond market.