Pakistan's External Debt: $130B+ Owed to IMF, World Bank, China & Others (2023)

As of 2023, Pakistan's total external debt stands at approximately $130 billion USD (IMF). Major creditors:

Top Lenders

1. IMF: ~$19.5B (Extended Fund Facility, standby arrangements)
2. China: ~$25B (CPEC infrastructure, commercial & concessional loans)
3. World Bank (IDA/IBRD): ~$12B (development projects)
4. Asian Development Bank: ~$10.5B (energy, transport, governance)
5. Saudi Arabia: Several billion (oil deferred payments, deposits, project aid)
6. Japan: ~$6.5B (ODA, yen loans)
7. Others: Paris Club, Eurobonds, Sukuk, commercial banks, UAE, Qatar.

Implications

• Debt service consumes ~40% of federal revenue.
• Rollover risk high; dependent on IMF programs & friendly deposits.
• CPEC debt reprofiling under discussion.
• FX reserves volatile (~$8–10B, <2 months import cover).

Debt sustainability hinges on reforms (tax, energy, SOEs), export growth, and political stability.