Monday, March 4, 2024

Pakistan Has to Pay Over $27 Billion Foreign Debt by Nov 2024

Pakistan is facing the challenge of repaying a total of $27.47 billion in foreign debt by November 2024, including both the principal amount and interest payments. This information comes from the State Bank of Pakistan (SBP).

When we break it down, there is $23.83 billion in foreign debt and an additional $3.64 billion in interest payments expected from December 2023 to November 2024.

In December 2023 alone, a significant amount of $4.29 billion is due, followed by monthly payments of $3.47 billion in January and February. The subsequent months, from March to November, require repayments totaling $19.71 billion.

Experts in economics anticipate the necessity for a new loan program from the International Monetary Fund (IMF) after March 2024. This new program would help Pakistan manage its debt repayments, given the fragile state of the country’s economy.

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