*ISLAMABAD: In a startling revelations, Pakistan to pay off $27 billionexternal debt in next two years.*
The International Monetary Fund (IMF) has said that $27 billion worth ofPakistan’s external debt will mature in two years – the mounting repaymentburden that carries serious implications for bailout package talks startedon Monday.
The technical teams of the IMF and Pakistan have locked into negotiationsfor 10 days amid authorities hoping to clinch a deal on May 10.
The $27 billion maturing external debt is equal to 27% of Pakistan’s totalexternal debt and liabilities as of end February, highlighting the gravityof challenges that the government of Prime Minister Imran Khan faces.
[image: IMF]
After including financing requirements of the current account deficit,Pakistan will need $46 billion to $50 billion in next two years to remainafloat, according to assessments of the government and some private sectorexperts.
The $27 billion external debt repayment figure has been disclosed by theIMF in a new Regional Outlook Report Update on the Middle East, NorthAfrica, Afghanistan that it officially made public on Monday.
“Many countries have large foreign currency debt – some $27 billion – setto mature in the next two years, leaving them more exposed to slower growthprospects and financial market volatility,” said the IMF. In a separatechart in the report, the $27 billion figure has been shown against Pakistan– the highest repayment by any country in the region.