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Economy

Pakistan’s External debt & liabilities keep on mounting

On 31st December 2020, Pakistan’s external debt and liabilities rose to USD 115.8 billion.

Pakistan’s foreign debt touched to a record level at USD 115.8 billion, reads data released by the State Bank of Pakistan. It shows an increase of USD 3 billion or 2.6 percent in the first six months of the current financial year.

SBP data showed that Pakistan’s external debt and liabilities were $110.7 billion till December 2019.

Dr. Ashfaq Hassan Khan, Dean at NUST predicts external debt and liabilities are expected to reach $120 billion by the end of this fiscal year.

The State Bank’s data further showed that an expansion in the EDL occurred in public as well as private sectors. A major increase in the foreign debt came from the disbursements from multilateral donors and bilateral creditors.

The public external debt amounted to $90.5 billion as of December 31, 2020, compared with $87.8 billion till the end of June. This was recorded at $87.6 billion till December-end of 2019.
The government’s external debt rose to $74.8 billion in July-December FY2021 from $70.3 billion a year earlier.

Long-term foreign debt stood at $73.9 billion at December-end, up from $68.7 billion till June-end. It amounted to $68.1 billion a year earlier.

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