Pakistan’s total debt, liabilities surge to Rs77tr in FY23

August 16, 2023 (MLN): Pakistan’s total debt and liabilities amplified to Rs77.1 trillion in FY23, marking a rise of 29% YoY from Rs59.78tr in FY22, according to data from the State Bank of Pakistan (SBP) released on Wednesday.

The country’s external debt which includes debt from IMF, intercompany external debt from direct investors abroad, government and non-governmental external debt, ballooned by 33.4% YoY to Rs32.5tr compared to Rs24.36tr in FY22.

It is important to note that the country’s debt from IMF stood at Rs2.04tr, which surged by 44.74% YoY in FY23.

On the other hand, the total liabilities including external and domestic rose to Rs4.59tr, expanding by 34.57% YoY compared to Rs3.41tr in FY22.

The data further revealed that servicing of total debt and liabilities surged to Rs9.82tr in FY23, jumping by 76.03% YoY compared to Rs5.58tr in the same period last year.

Out of the total servicing of debt and liabilities, Rs247bn stood as the principal repayment of the country’s debt from the IMF while the remaining amount was left against non-government external debt and government external debt and liabilities.

The country recorded Rs5.94tr in terms of interest payment on debt, and Rs182.3bn in terms of interest payment on liabilities.

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