Pakistan's total external debt stocks amount to $126.942
billion
The World Bank has reported that Pakistan's total external
debt stocks amount to $126.942 billion, a decrease from $130.873 billion
recorded at the end of 2021.
The International Debt Report 2023 highlights a significant
increase in external debt obligations to China in South Asia over the past 11
years, reaching $42.9 billion in 2022, with Pakistan accounting for two-thirds
of this amount.
Pakistan's
debt reaches Rs 64 trillion: SBP
The report specifies that the total external debt stocks
include the utilization of IMF credit and SDR allocations, totaling $11.522
billion in 2022, up from $10.841 billion in 2021. Long-term external debt
stands at $106.652 billion in 2022, showing a decline from $110.958 billion in
2021.
Public and publicly guaranteed debt in 2022 is distributed
among creditors, with 44 percent being multilateral (16 percent World Bank, 15
percent ADB, 13 percent other multilateral), 37 percent bilateral (25 percent
China, 4 percent Japan), and 19 percent private (9 percent bondholders, 10
percent other commercial).
Pakistan
pays back over $1b debt to international financial institutions
Short-term external debt for 2022 is reported at $8.768
billion, a decrease from $9.074 billion in 2021. Key ratios, such as external
debt stocks as a percentage of exports (320% in 2022 compared to 360% in 2021),
external debt stocks to GNI (34% in 2022 compared to 38% in 2021), and debt
service as a percentage of exports (42% in 2022 compared to 34% in 2021), are
also highlighted.
The breakdown of long-term external debt stocks includes
public and publicly guaranteed debt at $91.520 billion in 2022 (compared to
$95.413 billion in 2021), commercial banks and others at $15.133 billion in
2022 (compared to $15.545 billion in 2021), and zero bondholders in both years.
IMF
forecasts ongoing need for substantial loans and grants in Pakistan
Furthermore, the report mentions the Debt Management
Office's publications, including a semi-annual debt bulletin for July–December
2021, an annual report on public debt comparing debt management strategy
implementation with targets for end-FY2022, and semi-annual debt bulletins from
provincial finance departments for July–December 2022, adhering to
international reporting standards for Public Sector Debt Statistics (FY2023
PPA).
Source: Business Recorder