KARACHI -(Dow Jones)- Pakistan’s external debt rose to an unprecedented $55.68 billion as of Dec. 31, 2009 from $52.33 billion on June 30, 2009 due to loans received from the International Monetary Fund and other donor agencies.

In the past one-and-a-half years, overseas loans taken by the country have surged by $9.51 billion, according to data from the State Bank of Pakistan, the country’s central bank, posted on its Web site.

Pakistan’s external debt liabilities of $55.68 billion form 32% of its Gross Domestic Product, while in June 2008 these were at $46.16 billion, or 27.6% of GDP.

An analyst with a local brokerage said the government will have to focus on improving its fiscal health, rather than borrowing more.

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