Sunday, October 17, 2021

SBP releases data on Pakistan’s external, domestic debts

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KARACHI: The State bank of Pakistan has released statistics regarding the external and domestic debts of the government of Pakistan until August 2021, showing that they stand at Rs39.770 trillion, ARY NEWS reported.

The SBP in a detailed statement on external and domestic debts said that the government of Pakistan currently owes a local debt of Rs26.334 trillion and foreign debt of Rs13.435 trillion.

The domestic debt in the month of August has declined by Rs491 billion as compared to the last month of July 2021, however, the external debt had jumped by Rs392 billion in August.

The SBP data shows that the external debts had increased by Rs1.003 trillion in the first two months of the ongoing fiscal year 2021-22, while the domestic debt only rose by Rs69 billion in a similar period.

Last month, the State Bank of Pakistan (SBP) said that the country’s debt has soared to Rs38,697 billion in June 2021 with most of it being acquired from local financial sources.

According to details shared by the SBP, the debt owed by the federal government has increased by 10 percent annually and currently stands at Rs38,697 billion in June this year.

It said that 68 percent of the loans have been acquired from national sources while 32 percent was obtained using foreign funding. “The long term debt stands at 12,297 billion, whereas short term loan is Rs135 million,” the central bank shared.

It further added that Rs15,457 billion has been obtained after the sale of bonds while investment bonds also garnered Rs14,590  billion.

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