Pakistan’s total debt, liabilities rise to Rs80.86tr in 9MFY24

May 15, 2024 (MLN): Pakistan’s total debt and liabilities increased to Rs80.86 trillion in 9MFY24, marking a rise of 11.63% YoY from Rs72.44tr in 9MFY23, according to data from the State Bank of Pakistan (SBP) released today.

The breakup for the central bank's data shows that total debt stood at Rs78.09tr, while liabilities were recorded at Rs4.42tr during the review period.

The country's total debt comprised of three elements: domestic debt, PSE debt, and external debt, amounting to Rs43.43tr, Rs1.69tr, and Rs32.96tr respectively.

The external debt which includes debt from IMF, intercompany external debt from direct investors abroad, government and non-governmental external debt, decreased by 0.19% YoY as in the same period last year it stood at Rs33.02tr.

It is important to note that the country’s debt from IMF was Rs2.15tr, up by 1.25% YoY in 10MFY24.

The data released by the central bank further shows that the total liabilities (external and domestic) increased by 3.69% YoY to Rs4.42tr during the review period.

The last element in the breakup is the consolidated adjustment with reference to on-lending to GOP, amounting to Rs277.94bn in 9MFY24.

Total Debt and Liabilities Servicing

The servicing of total debt and liabilities surged to Rs7.78tr in 9MFY24, reflecting an increase of 18.75% YoY compared to Rs6.55tr in the same period last year.

Out of the total servicing of debt and liabilities, the predominant portion, amounting to Rs5.8tr, comprised interest Payment on debt.

The breakup further shows that the remaining amount comprises Rs1.81tr as the principal Repayment of External Debt and Liabilities and Rs169.94bn as interest Payment on Liabilities (external + domestic).

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