External debt and liabilities stand at $128.92 billion at the end of March

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KARACHI: Pakistan’s external debt and liabilities (outstanding) increased by 5.41% to $128.920 billion in the first nine months of the current financial year, central bank data showed on Thursday.

External Debt and Liabilities (EDL) stood at $122.292 billion at the end of June 2021.

The EDL amounted to $130.636 billion for the period ended December 31, 2021. These debts and liabilities amounted to $116.307 billion at the end of March 2021.

The EDL continued to rise as the government secured loans from international financial institutions, multilateral agencies and the Paris Club, and commercial sources to close the fiscal gap, finance the current account deficit and accumulate reserves. change.

As of March 31, 2022, the public external debt was $100.296 billion. It stood at $95.1 billion at the end of June 2021.

The government’s external debt fell from $79.073 billion at the end of June 2021 to $81.294 billion for the year to the end of March.

Long-term external debt stood at $79.863 billion at the end of March, down from $78.215 billion at the end of last fiscal year.

Debt accrued through multilateral sources rose to $34.513 billion from $33.836 billion at the end of June 2021.

Loans from bilateral sources stood at $17.151 billion, compared to $14.821 billion at the end of June 2021. Debt obtained through the IMF was $7.471 billion compared to $7.384 billion. Debt contracted via Euro Sukuk bonds remained unchanged at $8.80 billion.

Foreign investment in long-term government securities also experienced an upward trend. Debt via Naya Pakistan certificates fell from $809 million to $1.327 billion.

The rise in the EDL put pressure on foreign exchange reserves. The cost of debt service has also increased. External debt service rose to $4.875 billion in the third quarter of fiscal 2022 from $4.357 billion three months ago.

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