Pakistan’s govt external debt reaches $92.2 billion by March 2026

Pakistan’s government external debt reached $92.2 billion by the end of March 2026, according to the Economic Survey of Pakistan.

During the first nine months of FY2026, external debt increased by $364 million. However, the pace of debt accumulation remained significantly slower compared with the previous year.

The federal government’s outstanding external debt stood at $82.26 billion. Of this, obligations to the International Monetary Fund (IMF) amounted to $9.89 billion, representing approximately 11 per cent of total external debt.

The survey shows that the federal government’s long-term external debt rose to $68.41 billion, while short-term external liabilities were recorded at $13.85 billion.

Loans from the World Bank, the Asian Development Bank (ADB) and other multilateral institutions totalled $42.48 billion, accounting for 46 per cent of the country’s external debt stock.

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Debt owed to the Paris Club increased to $5.49 billion, representing nearly 6 per cent of total external debt, while bilateral loans from non-Paris Club countries exceeded $19 billion.

The outstanding value of Eurobonds and international Sukuk bonds was recorded at $6.3 billion, whereas borrowing from foreign commercial banks reached $6.32 billion.

According to the Economic Survey, the government is gradually shifting away from expensive short-term borrowing towards longer-term financing arrangements. The survey also projects that ongoing reforms and higher revenue generation will help reduce the debt burden over the medium term.