Pakistan’s External Debt Liabilities increase at the slowest pace in 10 quarters

August 23, 2019 (MLN): Pakistan’s economic indicators continued to show improvement as the total external debt liabilities increased only by USD 505 million in the final quarter of FY19, showing the smallest increase in the last 10 quarters.

However, during the course of FY19, Pakistan’s external debt liabilities increased by USD 11.075 Billion from USD 95.237 Billion to USD 106.312 Billion.

According to data released by the State Bank of Pakistan (SBP) public external debt grew by USD 8.579 billion ending the year at USD 83.936 billion, however, during the final quarter the figure dropped by USD 293 million.

Government External debt grew by USD 3.658 billion to USD 67.800 Billion during the year

Long term debt increased by USD 4.011 Billion, ending FY19 at 66.536 billion, however the figure decreased in the final quarter of FY19 as Pakistan repaid USD 1 Billion at the maturity of a Eurobond.

Short term debt (less than one year) decreased by USD 352 Million in FY19 to USD 1.264 Billion.

Loan from the IMF also decreased by USD 447 million during the year with Pakistan’s debt to the IMF standing at USD 5.648 billion at the conclusion of FY19.

Foreign Exchange liabilities increased throughout the year, showing a net increase of USD 5.367 Billion, which was largely due to deposits received by Saudi Arabia, UAE, Qatar as well as loans received from China.

Additional data posted showed the GDP (Current Market Price) to have decreased from USD 284.832 Billion to USD 236.478 billion, an alarming decrease of 16.98 percent during FY19.

Official liquid reserves decreased from USD9.866 Billion to USD 7.735 Billion.

External debt and liabilities as a percentage of GDP increased from 33.4 percent to 45 percent.

 

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Posted on: 2019-08-23T23:30:00+05:00

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