During the three-month period from April to June in FY21, the country’s external debt and liabilities increased by $9.18 billion to $122.16bn.
This data was released by the State Bank of Pakistan (SBP) on Monday. With regards to the percent of GDP, Pakistan’s external debt and liabilities have fallen from 45.7% to 40.3% in 4QFY21.
On a sequential basis, the country’s external debt and liabilities jumped by $5.89bn or 5% QoQ during Q4 as the amount was $116.3bn at end of March 2021.
According to the latest data issued by the State Bank of Pakistan (SBP), 78% of the entire debt can be attributed to Public External Debt, the combination of the government’s long term and short-term external debt, IMF loans to Central Bank, and Foreign Exchange Liabilities.
The government external debt which includes both long term and short-term external debt stood at $79.03bn during 4QFY21, up by 12% YoY and 7% QoQ, IMF loans to Central Bank and Federal government standing at $3.94bn and $3.43bn respectively, while foreign exchange liabilities outstanding recorded at $8.76bn during the period under review.
Within the public external debt, the Long-term debt stood at $78.174bn, up by 14% compared to 4QFY20 and 7% compared to the previous quarter. Short-term debt (less than one year) decreased by 44% YoY to $858mn compared to the figure recorded at the end of June 2020. While it was increased by 3% from $833mn at the end of March 2021.
The rest of the amount has been a result of Government borrowing from public sector enterprises, banks, and the private sector.
Notably, short-term ban borrowing reached $2.64bn during Q4 of FY21, showing an increase of 15% QoQ while it declined by 4% compared to Q4 of FY20.
Long-term bank borrowing was recorded at $4mn during 4QFY21, depicting a decline of 75% YoY and 64% QoQ.
Outstanding external debt of public sector enterprises (PSEs) during 4QFY21 stood at $6.74bn, the figure was 30% higher when it compared with 4QFY20 and 9% higher when it compared with the previous quarter.
Private sector external debt, which attributed to 10% of the total external debt amounted to $10.8bn by the end of 4QFY21, depicting a slight decline of 1% YoY and 2% QoQ.
Additional data posted showed the GDP (Current Market Price) to have increased from $247.1bn in April-June FY20 to $303.28bn, showing a notable jump of 23% YoY. However, compared with the previous quarter, GDP at the current market price shrank by 3% from $312.6bn.
