Pakistan has to repay $2.44bn external debt in July

ISLAMABAD: Pakistan’s external debt servicing requirement stands at $2.44 billion during the ongoing month (July 2023) including non-guaranteed debt of $2.07 billion to China.

Another $1 billion safe deposits from China is also due, so Pakistan and China are currently working on the rollover of around $3 billion bilateral debt within the ongoing month.

Official data exclusively available with The News revealed that Pakistan has to repay the Kingdom of Saudi Arabia to the tune of $195 million within the ongoing month. In guaranteed bilateral loans, Pakistan is bound to repay around $363 million including principal and mark-up amounts to China. Pakistan has to repay external debt servicing to France to the tune of $2.85 million and Japan $4.57 million.

In guaranteed bilateral loans category, Pakistan needs to repay China to the tune of $402 million as principal and mark-p in the ongoing month.

As commitment fees, Pakistan has to pay a penalty of $4 million within the ongoing month of fiscal year 2023-24. So total bilateral payment due within July 2023 stands at $513.32 million during the current month.

Pakistan has to pay as interest payment on account of Eurobond to the tune of $40 million in the ongoing month.

On account of commercial banks repayment, Pakistan needs repay $9 million within the ongoing month. In shape of safe Chinese deposits, total repayment stands at $1.033 billion including principal amount of $1 billion and mark up of $33 million. Pakistan has requested China to grant rollover of $1 billion safe deposits but it will have to repay the interest payment of $33 million.

Pakistan has to repay the IMF to the tune of outstanding loans of $189.67 million including principal amount of $165.02 million and mark up of $24.65 million. On account of Naya Pakistan Certificate, Pakistan will have to repay $46 million in shape of principal and mark-up amounts. Pakistan has to repay outstanding loan repayment to the ADB to the tune of $56.9 million, WB’s IDA repayment of $72.06 million and WB’s IBRD $8.82 million and some minor repayments to IFAD and other donors. The total repayment to the multilateral creditors in July stands at $149.41 million.

In non-guaranteed loan category, the outstanding loan repayment stands at $2.007 billion including principal amount of $1.79 billion and mark up amount of $286.07 million within the ongoing month of the current fiscal year.