How much loans PTI government has to repay in FY 2018-19?
ISLAMABAD - Pakistan’s overall external debt servicing obligation would be $9.3 billion in the current fiscal year.
The $9.3-billion external debt repayment and servicing requirement underscores the challenges the new Pakistan Tehreek-e-Insaf (PTI) government will face in arranging funds to meet the obligation.
Debt-related financing requirements have been shown in the “stabilisation and economic growth policy recommendation paper”, prepared by the former interim finance minister Dr Shamshad Akhtar-led finance ministry.
The report was submitted to the caretaker prime minister with a request to pass it on to the new government.
The report showed that Pakistan would require $9.3 billion to meet its debt-related obligations in fiscal year 2018-19, including repayments to the International Monetary Fund (IMF). It put interest payment on external debt at $1 billion in the first half of the fiscal year.
The $9.3-billion debt-related requirements are slightly lower than $10.2 billion worth of foreign currency reserves held by the central bank.