Pakistan borrows $10.6B while paying $13.3B in debt last fiscal year
Business
Pakistan borrowed 10.6 billion dollars last fiscal year, repaid 13.3 billion, with total foreign debt at 91.7 billion. Funds mainly from multilateral partners for energy, climate, and development.
ISLAMABAD (Dunya News) - The Government of Pakistan secured 10.6 billion dollars in new loans during the last fiscal year while repaying 13.3 billion dollars in principal and interest, according to the annual report released by the Ministry of Economic Affairs.
The report revealed that out of the total borrowing, the federal government took 8.6 billion dollars in loans while provincial governments borrowed 1.9 billion dollars.
Payments included 9.7 billion dollars in principal and 3.5 billion dollars in interest.
Pakistan’s total foreign debt reached 91.7 billion dollars by the end of the fiscal year.
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Multilateral development partners provided 5.06 billion dollars in loans, with the Asian Development Bank contributing the largest share of 2.2 billion dollars.
The World Bank provided 1.9 billion dollars, while the Asian Infrastructure Investment Bank extended 89 million dollars. Of the total borrowing, 1.3 billion dollars were allocated to power and energy projects.
The report also highlighted development spending, with 68 million dollars directed toward projects mitigating climate change impacts, 28 million dollars on urban and rural development, 18.5 million dollars on health initiatives, and 17.1 million dollars on information technology resources.
