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

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