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Pakistan Faces Over $27 Billion in Foreign Debt Repayments Through November 2024

Pakistan must pay back $27.47 billion in foreign debt by November 2024, including interest and principal payments, according to data from the State Bank of Pakistan (SBP).

The total foreign debt amounts to $23.83 billion, while estimated interest payments from December 2023 to November 2024 total $3.64 billion.

A large sum of $4.29 billion is due in December 2023 alone, followed by monthly payments of $3.47 billion in January and February. From March through November 2024, another $19.71 billion in repayments are scheduled.

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Economists predict the International Monetary Fund (IMF) will need to initiate a new lending program after March 2024 to assist Pakistan in managing its debt obligations amidst the country’s fragile economic situation.

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