ISLAMABAD – The International Monetary Fund (IMF) has projected an alarming rise in Pakistan’s external debt, touting it to touch $75 billion ($74.161 billion to be precise) by the fiscal year 2015-16, said a news report.
According to the IMF’s staff report, the Pakistani authorities and the IMF staff have estimated that Islamabad’s external debt would climb up to $57.417 billion by end of 2009-10, $64.607 billion by 2010-11, $68.894 billion by 2011-12, $70.955 billion by 2012-13, $71.338 by 2013-14, $72.75 billion by 2014-15 and $74.161 billion by 2015-16.
Pakistan’s total external debt would touch $57.417 billion by end 2009-10, out of which, public and publicly guaranteed external debt would touch $53.947 billion, while the private sector debt was projected to reach at $3.470 billion.
Pakistan’s medium- and long-term debt would stand at $44.102 billion during the end of the ongoing fiscal, out of which, multilateral creditors debt would be $24.686 billion, while the bilateral creditors’ debt would be $17.888 billion.
The debt amount from the ADB on Pakistan would stand at $11.627 billion, the World Bank $12.440 billion. The IMF’s loan amount will mount to $9.322 billion by end 2009-10. However, the IMF report says the external debt sustainability analysis shows that the debt stock would remain moderate and the external debt service would be manageable. – SG