March 5, 2021 (MLN): The total debt of the Central Government during the month of January 2021 surged by Rs. 3.54 trillion or 11% YoY to stand at Rs. 36.53 trillion when compared to Rs 32.997 trillion recorded in January 2020.
On a monthly basis, the central government debt increased by 1% against Rs. 36.26 trillion reported in December 2020.
The latest data released by the State Bank of Pakistan (SBP) shows that the larger portion of the debt was domestic, whereas the remaining was external. The Central Government Domestic Debt amounted to Rs. 24.5 trillion during the month, signifying a growth of around 12% YoY, comprising of Rs. 19.36 trillion long-term debt and Rs. 5.13 trillion short-term debt.
By the end of January 2021, the government’s long-term debt increased by 1% MoM while on yearly basis, it surged by 16% when compared to Rs. 16.74 trillion at the end of January 2020.
Similarly, the short-term debt increased by 2% both on an MoM and YoY basis.
Within the long-term domestic debt, the Pakistan Investment Bonds (PIBs) accounted for Rs. 14.16 trillion, and Saving Schemes accounted for Rs. 3.525 trillion, showing a jump of 15% and 8% YoY respectively. While in the short-term domestic debt, Market Treasury Bills amounted to Rs. 5.134 trillion, up by 8% YoY
A breakup of the Central Government External Debt shows that nearly Rs.11.89 trillion came from long-term loans, depicting a growth of 13% YoY while Rs. 140.7 billion came from short-term loans, which was 78% lower compared to the same month last year.
