Pakistan’s total external debt stock was $100.52 billion at the end of December 2022, with China financing $29.59 billion.
According to the International Monetary Fund’s (IMF) Country Report, China is by far Pakistan’s biggest rescuer among the bilateral and commercial creditors who have lent sizable loans to the cash-strapped South Asian economy to date, with $23.87 billion in bilateral and $5.71 billion in commercial contributions.
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As of December 2022, the debt stock of multilateral sources is at $44.67 billion. The IMF contributed $7.616 billion, Asian Development Bank contributed $15.267 billion (including African Development Bank and Inter-American Development Bank), World Bank contributed $18.19 billion, Asian Infrastructure Investment Bank contributed $1.385 billion, and Islamic Development Bank contributed $1.548 billion.
Meanwhile, the country’s bilateral debt stock stands at $39.93 billion until December 2022, with the Paris Club financing $8.459 billion of that total. Other Non-Paris Club debtors who have made large cash payments to Pakistan include Saudi Arabia.
As of December 2022, the Kingdom had lent the money-strapped nation a total of $4.745 billion.
As of the end of December 2022, the total value of Pakistan Banao Certificates (PBC), Naya Pakistan Certificates (NPC), and BOC deposits (savings) was $693 million.
Bond yields have so far helped Pakistan raise billions of dollars and avoid default on debt repayments. During the aforementioned time period, the country issued dollar-dominated bonds and Shariah-compliant maturities (e.g., Sukuk), raising a total of $7.805 billion.
