If they have paid all this debt why it is increasing?? They have just rolled-over most of the debt.
Whatever it is. We are sure this is not used to buy flats in London.
Forget about debt Pakistan was heading towards a default with only $8 billion in reserves but $20 billion Annual current account deficit. $20 billion CAD meant that Pakistan required this much amount annually only to keep things rolling let alone the fact that they still had to pay any previous debt reaching it's maturity. So in short the debt had to increase due to the record annual current account deficit regardless of you paying back any previous loan. PTI did great in reducing the rate of increase in loans over the last couple of years.
According to last the IMF Staff Report shows that the net international foreign currency reserves held by the SBP stood at negative $17.74 billion by end June 2019 and it would further go up negative to $18.478 billion by end September 2019.
While in June 2018 net international foreign currency reserves held by the SBP stood at negative $0.7 billion.