ISLAMABAD: The State Bank of Pakistan (SBP) said on Thursday that Pakistan made significant payments of $7.3 billion in its debt and interest obligations in the six months ending December 31, 2023.
According to the data provided by SBP, during this period, the country paid a total of $7.3 billion, comprising $4.6 billion in principal payments and $2.7 billion in interest payments. This hefty sum reflects the nation’s commitment to meeting its financial obligations despite economic challenges.
In comparison to revenue collections, which amounted to Rs 4.8 billion over the same period, the debt payments accounted for a substantial portion of the country’s financial outflows. With debt payments reaching Rs 4.2 billion, the data underscores the considerable burden of debt servicing on Pakistan’s fiscal resources.
For the complete fiscal year 2023, Pakistan’s total debt payments, including both principal and interest, amounted to a staggering $20.822 billion.
Breaking down the payments further, the data reveals that from October to December, the country disbursed $2.58 billion as principal payments and $1.54 billion as interest payments.
As Pakistan continues to navigate its economic challenges, managing debt obligations remains a crucial aspect of fiscal policy. The data released by the State Bank of Pakistan underscores the significance of debt repayment in the country’s financial landscape and underscores the need for prudent financial management practices to ensure sustainable economic growth.
