Key Points
Deputy Finance Minister Ali Pervaiz Malik on Thursday revealed that in the coming four years, Pakistan will have to repay USD 100 billion to external moneylenders..
Presently, the external debt owed by Pakistan's federal government is around 10 times more than the current USD 9.4 billion gross foreign exchange reserves of the country, the Express Tribune reported...
Another disclosure made by Pakistani Finance Minister Muhammad Aurangzeb stated that despite signing a USD 7 billion International Monetary Fund new programme, the country will not be able to meet its external financing requirements...
Additionally, the same news report claimed that the owed USD 100 billion external debt from spring 2024 to 2027 is exclusive of any payments for the liabilities in the balance sheet of the Pakistan Central Bank and financing the current account deficit of the country...
The Express Tribune report also claimed that the Director General of Debt, Mohsin Chandna has also told the standing finance committee that amount due for the fiscal year 2024-25, Pakistan's external debt has amounted to USD 18.8 billion which even excludes the repayment of the debt, the responsibility of the central bank...
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