Pakistan has to repay $2.44 billion of external debt in July 2023
1 year, 5 months ago

Pakistan has to repay $2.44 billion of external debt in July 2023

Live Mint  

Pakistan's crippling economy is sitting on a large pile of debt taken from international organisations and countries like China. The debt also includes $2.44 billion for the current month of July 2023 owed to China, reports ANI quoting the NEws International. This means that Pakistan and China are currently working on the rollover of around USD 3 billion bilateral debt within the ongoing month. Pakistan has to pay back the Kingdom of Saudi Arabia around $ 195 million of the current month, reported the news agency citing The News International. In a guaranteed bilateral loans category, Pakistan needs to repay China to the tune of USD 402 million as principal and mark up in the ongoing month, The News International reported.

Pakistan Debt Billion Million Usd Repay Pay China Ongoing Month  pay  china  pakistan  usd  million  billion  repay  debt  external  2023  current  244  ongoing  month

History of this topic

IMF To Evaluate Pakistan’s External Financing Requirements In Upcoming Review, Says Report
1 month, 1 week ago

IMF To Evaluate Pakistan’s External Financing Requirements In Upcoming Review, Says Report

ABP News  

The International Monetary Fund will examine the external financing needs of Pakistan in its performance review discussions next week. The global body will hold an unscheduled discussion in the country and assess the need of new foreign loans to fill almost $2.5 billion in external financing gap needed for the fiscal year. Pakistan is currently facing delays in securing loans …

IMF to assess Pakistan's external financing needs during performance review discussions: Report
1 month, 2 weeks ago

IMF to assess Pakistan's external financing needs during performance review discussions: Report

New Indian Express  

ISLAMABAD: The IMF's unscheduled performance review discussions in Pakistan next week will primarily focus on the materialisation of new foreign loans to the country to fill nearly USD 2.5 billion in external financing gap for this fiscal year, according to a media report. The International Monetary Fund will assess Pakistan's external financing needs during these discussions, as some planned loans …

Pakistan Seeks Extended Debt Maturities to Ease Electricity Price Hikes
2 months ago

Pakistan Seeks Extended Debt Maturities to Ease Electricity Price Hikes

Live Mint  

Pakistan's finance minister expresses optimism over China's response to its request to lengthen maturities for debt involved in the Belt and Road Initiative. The country is seeking breathing room to lower electricity prices, which have been significantly higher in recent years. Pakistan has seen a period of stability after securing a new $7 billion loan program from the IMF, and …

Pakistan has paid over $3.5 billion in interest to IMF in 40 years
4 months, 3 weeks ago

Pakistan has paid over $3.5 billion in interest to IMF in 40 years

Hindustan Times  

Pakistan has paid over USD 3.5 billion in interest on loans to the International Monetary Fund in the last forty years. In the last four years alone, Pakistan borrowed over USD 6.26 billion from the IMF and repaid USD 4.52 billion. In 2024, Pakistan borrowed USD 1.35 billion in Special Drawing Rights from the IMF and repaid USD 646.69 million …

Pakistan Wants China to ‘Reprofile’ Debt to Help Support Reforms
4 months, 3 weeks ago

Pakistan Wants China to ‘Reprofile’ Debt to Help Support Reforms

Live Mint  

Pakistan has sought Chinese help to “reprofile” its debts with rollovers and maturity extensions to create more breathing room for economic reforms it’s seeking to enact under a new International Monetary Fund’s $7 billion loan program. Discussed with central bank officials during a recent visit to Beijing was a proposal to extend the maturity of debt for nine power plants …

Pakistan reaches new $7 billion loan deal with IMF
5 months, 1 week ago

Pakistan reaches new $7 billion loan deal with IMF

Associated Press  

Pakistan has reached a staff-level agreement for a new $7 billion loan deal, the International Monetary Fund said Friday, the country’s latest turn to the global lender for help in propping up its economy and dealing with its debts through big bailouts. “The program aims to capitalize on the hard-won macroeconomic stability achieved over the past year by furthering efforts …

Pakistan President Zardari gives his assent to tax-laden Finance Bill criticised by opposition
5 months, 3 weeks ago

Pakistan President Zardari gives his assent to tax-laden Finance Bill criticised by opposition

The Hindu  

Pakistan President Asif Ali Zardari on June 30 gave his assent to the government’s tax-heavy Finance Bill 2024, which drew sharp criticism from the Opposition which labelled it as an IMF-driven document that was harmful to the public for the new fiscal year, according to a media report. Finance Minister Muhammad Aurangzeb presented the Budget in the National Assembly on …

Debt owed by Pakistan, Sri Lanka and Bangladesh to China rise to record levels: Data
7 months, 1 week ago

Debt owed by Pakistan, Sri Lanka and Bangladesh to China rise to record levels: Data

The Hindu  

Debt owed by various countries, especially in South Asia and Africa, to China has multiplied in recent years. In comparison, the low-and-middle-income countries’ total debt owed to the International Bank for Reconstruction and Development, a global development cooperative owned by 189 nations, was just a little higher at $223 billion. As seen in Chart 1, Pakistan’s total external debt stocks …

IMF approves immediate disbursal of USD 1.1 billion loan tranche to Pakistan
7 months, 3 weeks ago

IMF approves immediate disbursal of USD 1.1 billion loan tranche to Pakistan

Deccan Chronicle  

Washington/Islamabad: The IMF has approved an immediate disbursal of the final tranche of USD 1.1 billion to Pakistan as part of a bailout package, emphasising that the cash-strapped country needs to take tough measures to bring its economy back on track. The International Monetary Fund Executive Board's decision on Monday came after the global lender completed the second and final …

Pakistan’s election chaos casts shadow on next IMF deal
10 months ago

Pakistan’s election chaos casts shadow on next IMF deal

Al Jazeera  

Ex-PM Imran Khan has asked the IMF to factor in alleged rigging in recent elections. On Thursday, the global lender said Pakistan’s interim government had “maintained” economic stability. The IMF’s communications chief, Julie Kozack, said the interim government had managed to achieve fiscal targets while also “protecting” the social safety net. “We look forward to working with the new government …

ECONOMIC PERSPECTIVES | IMF’s urgent loan to Pakistan driven by the West’s paranoia over China
1 year, 4 months ago

ECONOMIC PERSPECTIVES | IMF’s urgent loan to Pakistan driven by the West’s paranoia over China

The Hindu  

Published : Aug 10, 2023 11:00 IST - 6 MINS READ On July 14, the shaky government of a debt-stressed Pakistan won itself a surprising reprieve from the IMF. Pakistan’s government has also succeeded in getting fund flows from “friendly” nations—$3.7 billion from bilateral partners such as Saudi Arabia and the UAE—and a roll-over of around $4 billion in loan …

China Rolls Over $2.4 Billion Loan to Cash-Strapped Pakistan for Two Years
1 year, 4 months ago

China Rolls Over $2.4 Billion Loan to Cash-Strapped Pakistan for Two Years

News 18  

China has rolled over a USD 2.4 billion loan to its all-weather ally Pakistan for two years to help the cash-strapped country shore up its foreign exchange reserves, Finance Minister Ishaq Dar said on Thursday. “Chinese EXIM Bank has rolled over for 2 years principal amounts of following loans totalling US$ 2.4 billion which are due in next 2 fiscal …

Pakistan’s finance minister says China rolls over $2.4 billion loan for Islamabad for 2 years
1 year, 4 months ago

Pakistan’s finance minister says China rolls over $2.4 billion loan for Islamabad for 2 years

Associated Press  

ISLAMABAD — Pakistan’s finance minister on Thursday said China has rolled over a $2.4 billion loan for the cash-strapped Islamic nation for two years, a move aimed at helping the country overcome one of its worst economic crises. The latest extension in loan maturities by Beijing was a boost to Pakistan’s fragile foreign exchange reserves, which are still only enough …

Pakistan: Army chief calls for people to 'throw out the begging bowl' to reduce dependence on foreign loans
1 year, 4 months ago

Pakistan: Army chief calls for people to 'throw out the begging bowl' to reduce dependence on foreign loans

India TV News  

Stressing that Pakistan needs to end dependence on foreign loans for sustaining its dilapidated economy, the country's Chief of Army Staff General Syed Asim Munir remarked that "all Pakistanis must throw out the begging bowl", reported Geo News. Pakistan Prime Minister Shehbaz Sharif announced that the cash-strapped country will receive $600 million from Beijing amid a swelling debt and low …

China agrees to reschedule $2 billion debt of Pakistan
1 year, 5 months ago

China agrees to reschedule $2 billion debt of Pakistan

The Hindu  

China has agreed to reschedule more than $2 billion debt of Pakistan for a period of two years, providing a major relief to the cash-starved country, which is in the process of rebuilding foreign exchange reserves through fresh loans. The $6.5 billion is a publicly guaranteed debt, and more than $2 billion repayments were maturing in two years that China …

Pakistan facing "exceptionally high" economic risks, external debt to mount: IMF
1 year, 5 months ago

Pakistan facing "exceptionally high" economic risks, external debt to mount: IMF

India Today  

An assessment from the International Monetary Fund has said that Pakistan's economic challenges were complex and multifaceted and risks were exceptionally high, The Dawn reported. “Resolving Pakistan's structural challenges, including long-term BOP pressures, will require continued adjustment and creditor support beyond the current programme period,” the Fund said in a report. “A possible successor arrangement could help anchor the policy …

Pakistan gets another $600 million loan from China: PM Shehbaz
1 year, 5 months ago

Pakistan gets another $600 million loan from China: PM Shehbaz

The Hindu  

Cash-strapped Pakistan has received a rollover of an additional $600 million loan from its all-weather ally China to help shore up the country's foreign exchange reserves on the back of an IMF deal, Prime Minister Shehbaz Sharif said on Tuesday. It is in addition to the over $5 billion in loans that Beijing has rolled over for Pakistan in the …

Relief to cash-strapped Pakistan as it gets final IMF approval for USD 3 billion loan
1 year, 5 months ago

Relief to cash-strapped Pakistan as it gets final IMF approval for USD 3 billion loan

India TV News  

In a relief to cash-strapped Pakistan, the International Monetary Fund on Wednesday gave a final nod to a USD 3 billion “stand-by arrangement” for the country to support the government's efforts to stabilise the ailing economy. "The Executive Board of the International Monetary Fund approved a 9-month Stand-By Arrangement for Pakistan for an amount of SDR2,250 million to support the …

Pakistan assures IMF of $8 billion external payments: Report
1 year, 5 months ago

Pakistan assures IMF of $8 billion external payments: Report

India Today  

Cash-strapped Pakistan has provided the IMF with a financing plan for external payments, in which it has informed the global lender that it will arrange USD 8 billion for the purpose instead of USD 6 billion, according to a media report on Saturday. The Executive Board of the IMF will meet on July 12 to review the SBA for Pakistan …

Pakistan receives $1 billion from China
1 year, 6 months ago

Pakistan receives $1 billion from China

The Hindu  

Cash-strapped Pakistan has received $1 billion from its close ally China to support its critically low foreign reserves amidst the uncertainty to revive a stalled International Monetary Fund loan. Earlier, Finance Minister Ishaq Dar said Pakistan had paid back $1 billion to China last Monday against a due amount of $1.3 billion and it was hoped that the amount would …

Pakistan Government debt swells to ₹58.6 trillion
1 year, 6 months ago

Pakistan Government debt swells to ₹58.6 trillion

The Hindu  

The Pakistan Government‘s total debt has increased 34.1% year-on-year to ₹58.6 trillion at the end of April, according to the latest report issued by the country’s central bank. Within the domestic debt, the largest share was of the Federal Government bonds that represented almost ₹25 trillion worth of loans. Pakistan, currently in the throes of a major political as well …

From the India Today archives (2023) | Pakistan's fast emptying coffers
1 year, 8 months ago

From the India Today archives (2023) | Pakistan's fast emptying coffers

India Today  

We have never defaulted in the past and we won't default now," asserted Pakistan's federal minister for finance Ishaq Dar on March 3, looking irritated at the persistent questions journalists were lobbing at him at a press conference. His irritation stemmed from ongoing speculation about the country's crisis-wracked economy; the latest blow dealt by credit ratings agency Moody's, which had …

China rolls over $2 billion loan to Pakistan as it struggles with external liquidity
1 year, 8 months ago

China rolls over $2 billion loan to Pakistan as it struggles with external liquidity

The Hindu  

Pakistani Finance Minister Ishaq Dar said on March 31 that China had rolled over a $2 billion loan that matured last week, providing relief during the South Asian nation's acute balance of payment crisis. Longtime ally Beijing has provided the only help Islamabad has got so far, with refinancing of $1.8 billion credited last month to Pakistan's central bank. In …

IMF says Pakistan must complete 'few remaining points' to get $6.5 bn loan
1 year, 9 months ago

IMF says Pakistan must complete 'few remaining points' to get $6.5 bn loan

Hindustan Times  

The International Monetary Fund said Pakistan has a few more tasks before it can unlock a $6.5 billion loan to avoid a default, putting pressure on the government to secure assurances from countries that have promised financing support. “A staff-level agreement will follow once the few remaining points are closed,” said Esther Perez Ruiz, the IMF’s resident representative for Pakistan. …

IMF sees substantial progress by crisis-hit Pakistan. When will it unlock loan?
1 year, 9 months ago

IMF sees substantial progress by crisis-hit Pakistan. When will it unlock loan?

Live Mint  

Crisis-hit Pakistan has made ‘substantial progress’ toward meeting policy commitments needed to unlock billions of dollars in loans the country needs to avoid default, the International Monetary Fund said, adding that a state-level agreement will follow once the few remaining points are closed. Esther Perez Ruiz, the IMF’s resident representative for Pakistan said, “Ensuring there is sufficient financing to support …

If IMF delays loan Pak will be in deeper troubles, US Bank warns
1 year, 9 months ago

If IMF delays loan Pak will be in deeper troubles, US Bank warns

Live Mint  

If crisis-hit Pakistan does not secure funding from the International Monetary Fund, the country will need to stop its debt repayments, a US bank warned as Islamabad is close to inking a deal with the IMF to unlock the $1.1 billion loan from the $6.5 billion bail out package. The Bank of America said China can rescue crisis-hit Pakistan because …

IMF deal in jeopardy, only China can bailout Pakistan: Report
1 year, 9 months ago

IMF deal in jeopardy, only China can bailout Pakistan: Report

Live Mint  

A US bank said that China can rescue crisis-hit Pakistan because of its close ties with the country, while the International Monetary Fund and Pakistan are still in tough negotiations on financial aid for economic recovery, according to a report by Dawn news. “Whether and when Pakistan can receive the next installment from the IMF is still up in the …

Pakistan’s economic crisis gets worse; external debt surges by 38%
1 year, 9 months ago

Pakistan’s economic crisis gets worse; external debt surges by 38%

Live Mint  

Pakistan's economic crisis is getting worse with every passing day. As per the latest report, the country's external debt rose sharply by 38% to PKR 20.69 trillion by the end of January 2023 as compared to the year-ago period. The pkrevenue report mentioned that the State Bank of Pakistan 's external debt was PKR 14.98 trillion in 2022 January. Pakistan's …

Pak’s economy in ’shambles’; China is lending a hand
1 year, 9 months ago

Pak’s economy in ’shambles’; China is lending a hand

Live Mint  

Pakistan's external foreign debt amounts to $126 billion, out of which $30 billion is held by China, according to the International Monetary Fund data. This amount is three times larger than Pakistan's IMF debt of $7.8 billion and exceeds its borrowings from the World Bank and Asian Development Bank altogether. According to a 2019 study by the Jang Group and …

ECONOMIC PERSPECTIVES | Pakistan likely to go the Sri Lanka way, default on external debt payments
1 year, 10 months ago

ECONOMIC PERSPECTIVES | Pakistan likely to go the Sri Lanka way, default on external debt payments

The Hindu  

Published : Feb 23, 2023 10:40 IST Across the world, many lower- and middle-income countries are struggling with balance of payments difficulties that are undermining their ability to service their external debt. “The policies the IMF prescribes when it is approached for balance of payments support in situations of stress contribute to worsening the situation in “assisted” countries. That release, …

China approves $700 million loan to Pakistan: Finance Minister Ishaq Dar
1 year, 10 months ago

China approves $700 million loan to Pakistan: Finance Minister Ishaq Dar

The Hindu  

Pakistan's all-weather ally China has approved a loan of $700 million to the cash-strapped country, Finance Minister Ishaq Dar announced on Wednesday. The announcement by Dar on the loan by the Board of China Development Bank came a day after Pakistan’s National Assembly unanimously passed a money bill aimed at raising tax revenues to fulfil the demands set by the …

Pakistan: China approves USD 700 million loan to cash-strapped country
1 year, 10 months ago

Pakistan: China approves USD 700 million loan to cash-strapped country

India TV News  

Pakistan: The all-weather ally of China has approved a major loan of a whopping price to the cash-strapped country 'Pakistan'. The Finance Minister of Pakistan, Ishaq Dar on Wednesday announced that China has approved a loan of USD 700 million. The money bill was passed aiming to fulfill the demands set by the International Monetary Fund for seeking a USD …

Pakistan National Assembly passes bill to meet IMF demands for $1.1 billion loan facility
1 year, 10 months ago

Pakistan National Assembly passes bill to meet IMF demands for $1.1 billion loan facility

The Hindu  

Pakistan’s National Assembly on Tuesday, February 21, 2023, unanimously passed a money bill aimed at raising tax revenues to fulfil the demands set by the International Monetary Fund for seeking a USD 1.1 billion loan facility to avoid an economic meltdown. "The prime minister will also unveil austerity measures in the next few days," Finance Minister Ishaq Dar said as …

Will Pakistan's economic crisis affect Beijing-Islamabad relationship? China's quandary grows
1 year, 10 months ago

Will Pakistan's economic crisis affect Beijing-Islamabad relationship? China's quandary grows

India TV News  

Pakistan's economic crisis: China which holds Islamabad’s largest debt on Monday said it backed measures taken by its "all-weather friend" Pakistan to tide over the disastrous situation and hoped it will, in the end, pull through. Pakistan at the verge of default Pakistan’s current account deficit shrank 90.2 per cent to USD 0.24 billion in January from USD 2.47 billion …

China in Quandary as Pakistan Faces Debt Default After Steep Fall in Forex Reserves
1 year, 10 months ago

China in Quandary as Pakistan Faces Debt Default After Steep Fall in Forex Reserves

News 18  

Watching warily Pakistan plunging into the worst economic crisis with prospects of defaulting on foreign loans, China which holds Islamabad’s largest debt on Monday said it backed measures taken by its “all-weather friend” to tide over the disastrous situation and hoped it will, in the end, pull through. Pakistan’s current account deficit shrank 90.2 per cent to USD 0.24 billion …

Pakistan to impose taxes worth Rs 170 billion to meet IMF conditions
1 year, 10 months ago

Pakistan to impose taxes worth Rs 170 billion to meet IMF conditions

India TV News  

Pakistani government approved the imposition of new taxes on electricity to raise an additional Rs 170 billion in revenue in order to meet the conditions set by International Monetary Fund, according to a statement. The meeting approved an overarching Revised Circular Debt Reduction Plan worth Rs 952 billion for the current fiscal year that would also involve an additional budget …

Pakistan economic crisis: Military, political leadership cut sorry figures as Islamabad drowns in debt
1 year, 10 months ago

Pakistan economic crisis: Military, political leadership cut sorry figures as Islamabad drowns in debt

Firstpost  

There is a very real possibility that Pakistan could fall, and fall badly. A mountain of debt – the figures Pakistan’s tumultuous history has seen it hovering on the brink of crisis several times, but this is the first time it’s slipping into possible default. Pakistan is already allotted Rs3.5-Rs3.9 trillion – i.e 4.5 per cent-5.0 per cent of GDP …

Pakistan needs 34 billion dollars to pay foreign loans. It is likely to default
2 years, 1 month ago

Pakistan needs 34 billion dollars to pay foreign loans. It is likely to default

Hindustan Times  

Pakistan's default risk has increased sharply amid political turmoil and uncertainty about talks with the International Monetary Fund, reported Dawn. The country's default risk was measured by five-year credit-default swaps, insurance contracts that protect an investor against a default, Dawn reported The credit-default swaps increased and reached 75.5 per cent on Wednesday from 56.2 per cent, Dawn cited data circulated …

‘Will Deal with it’: After Flouting Bailout Conditions, Pakistan Fin Min Ishaq Dar Heads to US for Annual IMF Meet
2 years, 2 months ago

‘Will Deal with it’: After Flouting Bailout Conditions, Pakistan Fin Min Ishaq Dar Heads to US for Annual IMF Meet

News 18  

Pakistan finance minister Ishaq Dar this week said his country will not seek to reschedule bilateral debt of close to $27 billion with different countries, according to news agency the Dawn. A defiant Dar, according to the Dawn, said: “I have been dealing with the IMF for the last 25 years; I will deal with it.” The move by the …

Economic crisis worsens in Pakistan, total debt jumps to PKR 60 trillion
2 years, 4 months ago

Economic crisis worsens in Pakistan, total debt jumps to PKR 60 trillion

India Today  

The economic crisis has worsened in Pakistan and the country's debt has jumped to a record high of Pakistani Rupee 60 trillion, the Express Tribune reported. The State Bank of Pakistan said that the increase in public debt was Rs 9.3 trillion in the past one fiscal year but it swelled to a record of Rs 49.2 trillion by June-end …

Pakistan signs deal with France to suspend loans worth $170 million
2 years, 5 months ago

Pakistan signs deal with France to suspend loans worth $170 million

India TV News  

Highlights France signed an agreement with cash-strapped Pakistan to suspend its loan worth USD 107 million The agreement was signed by Mian Asad Hayaud Din and French Ambassador Nicolas Galey Total amount of debt that has been suspended and rescheduled under DSSI framework, stands at $3,688M Pakistan: France signed an agreement with cash-strapped Pakistan to suspend its loan worth USD …

Pakistan to borrow USD 2.7 billion loan from China for CPEC projects
4 years, 1 month ago

Pakistan to borrow USD 2.7 billion loan from China for CPEC projects

Op India  

Pakistan seems to be taking the path of Maldives, Sri Lanka, and several other nations and seeking large loans from China. Imran Khan-led Pakistan govt is seeking USD 2.7 billion loan from the Chinese govt to complete construction projects of package-I of the Mainline-1 project of China Pakistan Economic Corridor. According to the Pakistani media, during the sixth meeting of …

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