Pakistan to payback $3.6 billion by FY17-18: Govt

Staff Report
Saturday - December 30, 2017
ISLAMABAD: Referring to news reports in a section of media, on Friday, wherein it is stated that Pakistan has to pay back $6 billion to foreign creditors in the next 6 months, finance division spokesman, in a statement, clarified that total payments against external public debt during fiscal year (FY) 2017-18 were $6 billion out of which $2.4 billion have been paid.

According to detail, the statement continued, the government has to pay $3.6 billion over the remaining period of current fiscal year.

The spokesman said that external public debt repayment obligations for Pakistan are not more than an average of $5 billion per annum until 2022.

Keeping in view the track record of the country, this amount of repayments should not raise any concern as Pakistan has successfully met higher repayment obligations even with much lower volume of foreign exchange reserves in the past.

Furthermore, external inflows are expected to be sufficient to meet repayment obligations, the spokesman concluded.