Pakistan pays $8.1bn for external public debt servicing in 9MFY24

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MG News | August 13, 2024 at 01:10 PM GMT+05:00

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August 13, 2024 (MLN): Pakistan's government has paid an amount of $8.086 billion from July–March 2023-24 on account of debt servicing of external public loans.

According to the quarterly report by the Economic Affairs Division (EAD), this consists of principal repayment of $5.363bn and interest payments of $2.723bn.

Payments to the International Monetary Fund (IMF) stood as the highest single creditor payment amounting to $1.7bn. The breakup shows that $1.239bn was paid as principal payments, while the remaining $461m were interest charges.

Additionally, Saudi Arabia received a total of $1.153 billion, consisting of $1.107 billion in principal payments and $46 million in interest charges.

Following this, the Asian Development Bank (ADB) received $1.033bn in outflows from the government for the 9MFY24.

The World Bank received $905 million in external public debt servicing from Pakistan during the same period.

Further analysis of data shows that payments worth $1.062bn were made exclusively as interest charges to to Foreign Commercial Banks, Bonds, China Safe Deposits, and KSA Deposits.

External Public Debt Servicing (US$ Million)

Lender/Creditor Debt Servicing
  Principal Interest Total
IMF 1,239 461 1,700
Saudi Arabia 1,107 46 1,153
ADB 645 388 1,033
World Bank 606 299 905
China 185 238 423
Foreign Commercial Banks - 343 343
Bonds - 331 331
China Safe Deposits - 236 236
Japan 225 29 254
France 156 30 186
KSA Deposits - 152 152
NPC 625 34 659
Others 575 136 711
Total  5,363 2,723 8,086

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