Here’s How Much Foreign Public Debt Was Paid in First 8 Months of FY2020 - Android

The total servicing of external public debt was $5.344 billion during July-February 2019-20 against the budgeted $10.423 billion for the… Read More

The post Here’s How Much Foreign Public Debt Was Paid in First 8 Months of FY2020 appeared first on .

The total servicing of external public debt was $5.344 billion during July-February 2019-20 against the budgeted $10.423 billion for the entire fiscal year, said the Economic Affairs Division (EAD).

According to the latest figures released by the EAD, total servicing of external public debt was $5.344 billion during the first eight months of the current financial year. Of which, $4.190 billion (78 percent of total external public debt servicing) was repaid as principal and $1.154 billion (22 percent) as interest on the outstanding stock of external public debt.

The Division further stated that around 55 percent of total external public debt repaid during the fiscal year 2019-20 constitutes the repayments of some of the foreign commercial loans and Sukuk which was obtained/issued by the previous government.

During the first eight months of the current fiscal year, the government repaid $1.297 billion of foreign commercial loans and $1 billion of Sukuk issued in December 2014. Further, the government repaid $1.275 billion to multilaterals and $618 million worth of external loans of bilaterals.

It further stated that net transfers to the government were $1.456 million for the period July-February, 2019-20. Positive net transfers mainly come due to lending by Asian Development Bank to address fiscal imbalances, ensure macroeconomic stability and secure financial sustainability in the country.

The stock of external loans which was obtained on market-based instruments has declined by $498 million and the share of concessional external loans with longer maturity increased by $1.954 billion, EAD added.

The post Here’s How Much Foreign Public Debt Was Paid in First 8 Months of FY2020 appeared first on .