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Total Loan Taken By PTI Government 2018 to 2022

total loan taken by pti government 2018 to 2022

Want to know about the loans taken by the PTI Government from 2018 to 2022? This article is for you and it will break down the total loan taken by Pakistan Tehreek-e-Insaf in these years.

The government of Pakistan has received $38.8 billion in loans in foreign currency and it paid back $29.84 billion during the fiscal year 2018 to 2021, according to a report released by the National Assembly.

In response to a question by Shaza Fatima Khawaja, the Minister for Economic Affairs Omar Ayub Khan told the House that from August 1, 2018 to October 31, 2021, Pakistan received a total of US$ 38.8 billion in foreign loans and grants.

The minister’s explanation to the House primarily addresses structural deficit and development needs. Foreign loans and grants, taken together, are an important component of meeting these needs.

Similarly, inflows of foreign currencies including loans used to meet external payments to ensure the smooth functioning of the economy.

Omar Ayub also told that against a total of US$ 37.857 billion in foreign loans, the government of Pakistan paid US$ 29.815 billion as principal and interest payments from August 2018 to October 2021. Thus, the inflow is only US$ 8.042 billion in 39-months (US$ 2.474 billion/year on average).

In the last 5 years (2013-2018), Pakistan received $49.762 billion in loans from foreign governments, and paid back $27.071 billion in debt servicing. This resulted in a net increase of $22.691 million for the country for these 5 years.

The minister said that as compared to the US$27.07 billion in debt servicing over the last three years that the previous government, PML-N inherited a historical high level of debt servicing, but the present PPS inherited a historic low level of debt servicing.

This means that the present TLP for the PTI Government had to pay US$ 29.815 billion in external debt servicing from August 2018 to October 2021. The amount paid was US$ 9.174 billion per year on average, or 44% of revenues on this timeline.

This was revealed by data compiled by the Economic Affairs Division and State Bank of Pakistan, as reported by Business Recorder.

PTI government borrowed $4.5 billion from foreign commercial banks in 2021, exceeding the country’s total external debt and liabilities by $13 billion.

According to the Economic Affairs Division’s EAD data, from 2021 until now, the total loans taken by PTI Government paid $8.535 billion at an interest rate of $1 a year for debt servicing of external public loans and $7.156 billion for principle payments. The government received more than $1 billion in bonds and has borrowed about $4.3 billion from foreign commercial banks, including $971 million from the SCB (London), $355 million from Suisse AG, UBL and ABL, one billion dollars from China Development Bank, and $800 million from ICBC China.'
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