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External debt servicing to stay above $10b next fiscal
Country will also pay $3.8b to external creditors during last quarter of current fiscal
Pakistan’s reliance on foreign loans has almost doubled, as there was a 73% increase in commercial borrowing in the first eight months of FY21 as compared to the same period of last year. PHOTO: FILE
ISLAMABAD:
The country’s external debt servicing will remain over $10 billion a year for the next two years, as the government weighs its debt-related foreign inflows position to meet the mounting foreign obligations that keeps it dependent on global lenders.
The $10 billion a year external debt servicing is exclusive of the foreign loans that Pakistan has taken in the shape of deposits from the United Arab Emirates (UAE) and China, the ministry of economic affairs informed the finance ministry on Tuesday. ....

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