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Pakistan’s external debt jumps $13bn in a year: SBP

Debt 1 - Pakistan’s external debt jumps $13bn in a year: SBP

KARACHI: Pakistan’s external debt and liabilities have increased by $13 billion (11.4 percent) during the last year.

According to the statistics released by the State Bank of Pakistan (SBP), the ratio of debt and liabilities to the GDP increased to 40.2 percent by September 2021 as against 39.6 percent in September 2020. Similarly, the public external debt-to-GDP ratio also increased to 31.6 percent, compared with 30.9 percent a year ago.

The SBP data also showed that the outstanding debt and liabilities stood at $127 billion by September 2021, compared with $114 billion in September 20202. The external public debt of the country increased from $10.76 billion to $99.6 billion by the end of September 2021, compared with $88.9 billion a year ago.

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Of the total public external debt, the government’s external debt increased to $80.95 billion, compared with $72.30 billion. The outstanding external debt from the International Monetary Fund (IMF) reduced to $7.07 billion as against $7.6 billion.

The outstanding external debt under the head of foreign exchange liabilities increased to $11.64 billion by September 2021, compared with $9.03 billion a year ago.

Similarly, the external debt of public sector enterprises rose to $6.68 billion, compared with $5.13 billion. Foreign borrowing from the banks also registered an increase to $5.37 billion, compared with $4.41 billion.

Meanwhile, the private sector foreign borrowing; however, slightly reduced to $11.09 billion by September 2021 as against $11.32 billion in the same period of the last year.

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