Around $17bn foreign debt incurred in FY22

ISLAMABAD: Pakistan incurred foreign debt of around $17 billion from multiple financing sources in the fiscal year 2021-22, which includes $4.9 billion from foreign commercial banks (29%) against the total budgeted external loans of $14.088 billion for the fiscal year 2021-22.

This does not include the $1 billion received from the International Monetary Fund (IMF) during this period.

Data from the Economic Affairs Division (EAD) shows that…