Debt servicing drops 18.66% YoY in FY24

MG News | August 15, 2024 at 12:15 PM GMT+05:00

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August 15, 2024 (MLN): Pakistan's total debt servicing (principal and interest) by the government reached $16.93 billion at the end of FY24, marking an 18.66% year-over-year decrease compared to FY23, according to the latest data issued by the State Bank of Pakistan (SBP) on Thursday.

Breaking down the data, principal payments during FY24 reached $11.47bn, with the majority ($9.43bn) attributed to public debt, particularly under the government debt head ($7.79bn).

Interest payments on public debt totalled $4 billion, with $3.11bn of this amount specifically tied to government debt.

Additionally, $2.26bn in debt was associated with IMF loans during FY24, with $619 million of that amount accounting for interest payments alone.

Public sector debt stood at $459m in FY24, a significant 43% decline year-over-year compared to $802.7m in the previous year. Of this, $239.5m was interest, and $219m clocked in as the principal amount.

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