Farooq Awan

The government of Pakistan paid US$ 13,320 million in external public debt servicing during July–June 2024-25, according to the Annual Report on Foreign Economic Assistance issued by the Ministry of Economic Affairs.

The report states that the total debt servicing comprised US$ 9,729 million in principal repayments and US$ 3,591 million in interest payments during the fiscal year.

According to the lender-wise breakdown provided in the report, foreign commercial banks accounted for US$ 2,991 million in total servicing, including US$ 2,664 million in principal repayments and US$ 327 million in interest payments.

Servicing payments to the International Monetary Fund (IMF) totaled US$ 2,103 million, consisting of US$ 1,523 million in principal and US$ 580 million in interest.

The Asian Development Bank (ADB) received US$ 1,545 million in total servicing during the fiscal year, including US$ 930 million in principal repayments and US$ 615 million in interest payments.

Payments to the World Bank amounted to US$ 1,256 million, comprising US$ 837 million in principal and US$ 419 million in interest.

Saudi Arabia received US$ 810 million in total servicing, including US$ 777 million in principal and US$ 33 million in interest.

Bond-related payments totaled US$ 500 million, entirely categorized as interest payments during the fiscal year under review.

Servicing payments to China amounted to US$ 404 million, consisting of US$ 165 million in principal and US$ 239 million in interest.

Japan received US$ 381 million, including US$ 334 million in principal repayments and US$ 47 million in interest payments.

China SAFE deposits accounted for US$ 277 million in interest payments, while short-term Islamic Development Bank (IsDB) obligations amounted to US$ 277 million, including US$ 250 million in principal and US$ 27 million in interest.

France received US$ 241 million, comprising US$ 207 million in principal and US$ 34 million in interest. Payments related to Saudi deposits totaled US$ 203 million in interest.

Germany received US$ 107 million in total servicing, including US$ 99 million in principal and US$ 8 million in interest.

Naya Pakistan Certificates (NPC) accounted for US$ 1,564 million in servicing, including US$ 1,470 million in principal repayments and US$ 94 million in interest.

Other lenders collectively received US$ 661 million, including US$ 473 million in principal and US$ 188 million in interest payments.

The Ministry of Economic Affairs compiles debt servicing data through the Debt Management and Financial Analysis System (DMFAS), which records principal and interest payments made to external creditors.

The Annual Report on Foreign Economic Assistance 2024-25 presents the total debt servicing figure of US$ 13,320 million as part of its overview of external public debt obligations discharged during July–June 2024-25, detailing the distribution between principal and interest payments across major creditors.

Credit: INP-WealthPk