May 15, 2019 (MLN): Pakistan’s external debt increased by USD 6.755 Billion between Jan – March 2019 taking the country’s total debt liabilities to USD 105.841 billion, the highest level in the nation’s history.
As at December 31, 2018 the total debt had stood at USD 99.086 Billion, showing an increase of 6.82 percent in just one quarter.
More alarmingly, the debt figure has increased by USD 13.553 Billion, or 14.69%, when compared to USD 92.288 Billion during corresponding period from last year, (March 31, 2018).
The data released by the State Bank of Pakistan, disclosed that external debt & liabilities as a percentage of GDP increased from 35.7 to 38.7 percent.
A significant portion of the increase can be attributed to Central bank deposits which increased by USD 3 Billion during the previous quarter and by USD 5 Billion during the past 12 months, mostly likely because of placement of funds by Saudi Arabia and the UAE.
While another notable increase is in commercial loans/ credits which have increased by USD 2.05 billion over the previous quarter.
Copyright Mettis Link News