Pakistan's Debt and Liabilities Profile Provisional

(In Billion Rupees)

R R R R R R
FY17 Q2FY18 Q3FY18 Q4FY18 FY18 Q1FY19 Q2FY19 Q3FY19

Pakistan's Total Debt and Liabilities (I +II) 25,114.2 26,861.7 28,358.3 29,879.2 29,879.2 30,846.2 33,235.7 35,094.5
YoY Growth (in %) 11.2 15.0 17.3 19.0 19.0 19.2 23.7 23.8
As percent of GDP 78.6 78.1 82.4 86.9 86.9 80.2 86.4 91.2
I. Pakistan's Total Debt (A+B+C) 24,053.8 25,786.5 27,297.9 28,437.2 28,437.2 29,416.6 31,531.5 33,026.6
YoY Growth (in %) 11.5 14.9 17.1 18.2 18.2 18.4 22.3 21.0
As percent of GDP 75.3 75.0 79.4 82.7 82.7 76.5 82.0 85.8

A. Government Domestic Debt 14,849.2 15,437.4 16,074.1 16,416.3 16,416.3 16,919.8 17,535.7 18,170.6
B. PSEs Domestic Debt 822.8 888.8 996.4 1,068.2 1,068.2 1,128.9 1,213.3 1,378.4
C. External Debt (a+b+c+d) 8,381.8 9,460.2 10,227.3 10,952.7 10,952.7 11,367.8 12,782.4 13,477.6
a) Government External Debt 5,918.7 6,692.5 7,269.6 7,795.8 7,795.8 8,122.9 9,101.1 9,625.7
b) Non-government External Debt 1,468.4 1,702.5 1,827.2 1,979.0 1,979.0 2,052.6 2,432.3 2,597.4
c) Country's Debt from IMF 640.8 690.9 732.7 740.8 740.8 740.7 819.0 811.2
d) Intercompany External Debt from Direct Investor abroad 353.9 374.4 397.9 437.2 437.2 451.6 429.9 443.3
II. Total Liabilities (D+E) 1,060.4 1,075.2 1,060.5 1,442.0 1,442.0 1,429.6 1,704.3 2,067.9
YoY Growth (in %) 4.6 17.0 22.3 36.0 36.0 38.7 58.5 95.0
As percent of GDP 3.3 3.1 3.1 4.2 4.2 3.7 4.4 5.4
D. External Liabilities1 373.8 403.3 432.4 622.3 622.3 620.7 970.0 1,414.3
E. Domestic Liabilities
2
686.5 671.9 628.1 819.7 819.7 808.9 734.3 653.6

Total Debt and Liabilities Servicing (III+IV+V) 1,874.9 424.5 529.7 477.9 1,996.8 611.9 517.9 824.3
YoY Growth (in %) 16.4 44.6 -13.2 3.3 6.5 8.4 22.0 55.6
As percent of GDP 5.9 1.2 1.5 1.4 5.8 1.6 1.3 2.1
III. Principal Repayment of External Debt and Liabilities (a+b+c+d) 3 465.4 75.5 85.7 96.4 365.3 124.8 109.2 202.5
(a) Government External debt and Liabilities 391.4 61.0 63.2 67.0 286.5 96.7 75.9 162.5
(b) Non-government External debt 74.0 14.6 17.6 24.5 69.0 17.7 27.8 22.6
(c) Country's Debt from IMF 0.0 0.0 4.8 4.9 9.8 10.4 5.6 17.4
(d) Monetary Authorities external Liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
IV. Interest Payment on debt (a+b+c) 1,367.0 338.2 433.5 358.2 1,575.7 469.9 391.1 605.3
(a) Government Domestic Debt 1,205.8 274.4 383.8 265.9 1,330.0 405.3 282.5 521.2
(b) PSE Debt NA NA NA NA 0.0 NA NA NA
(c) External Debt 161.1 63.8 49.7 92.3 245.7 64.5 108.6 84.1
Government External debt 128.6 49.2 30.7 65.1 172.4 44.8 78.6 57.8
Non-government External debt 23.5 11.4 15.3 23.2 59.2 15.3 25.2 21.2
Country's Debt from IMF 9.0 3.2 3.8 3.9 14.1 4.4 4.8 5.1
V. Interest Payment on Liabilities (a+b) 42.6 10.8 10.5 23.3 55.8 17.2 17.6 16.5
(a) External Liabilities 9.1 0.2 0.6 10.1 11.9 4.1 5.3 5.5
(b) Domestic Liabilities 33.5 10.6 9.9 13.2 43.9 13.1 12.3 10.9

Memorandum Item
Servicing (Principal) Short Term (Excluding item "c" given below) 218.4 22.8 15.7 97.7 205.8 111.8 103.2 33.9
a) Government External Debt 146.0 17.1 11.1 91.1 166.3 74.3 82.3 23.1
b) PSEs Non-Guaranteed Debt 4.5 0.1 0.1 0.0 3.6 0.0 0.0 0.0
c) Scheduled Banks Borrowing 8,666.3 3,033.4 1,758.8 1,268.5 8,121.8 1,089.4 1,457.3 1,039.1
Net Flows 4 177.3 -33.8 -9.3 -48.5 -41.9 5.6 49.0 -12.9
d) Private Non-Guaranteed Debt 67.9 5.5 4.4 6.5 35.9 37.5 20.9 10.7
T T T
FY17R FY18P FY18P FY18P FY18P FY19 FY19 FY19
GDP (current market price)5 31,962.6 34,396.5 34,396.5 34,396.5 34,396.5 38,474.0 38,474.0 38,474.0
US Dollar, last day average exchange rates 104.8861 110.4328 115.5052 121.5405 121.5405 124.2374 138.7921 140.7008
US Dollar, during the period average exchange rates 104.8120 106.5318 111.1973 116.7950 109.9734 124.4085 134.3221 138.9353
1
External liabilities include Central bank deposits, SWAPS, Allocation of SDR and Non resident LCY deposits with central bank.
2
Includes borrowings from banks by provincial governments and PSEs for commodity operations.
3
As per the guidelines available in IMF's External Debt Guide for Compilers and Users 2003, the principal repayment of short term debt is excluded from over all principal repayments. However, for the information of
data users, short term repayment of principal has been reported as Memorandum Items. For details see link:

http://www.sbp.org.pk/departments/stats/Notice/Press%20Release-external%20debt-_Revised_.pdf
4
Net flows of short term borrowings by banks reflect the net increase (+) or decrease (-) in the stock of short term bank borrowings during the period.

5 PBS, GDP(mp) revised estimate for FY17, provisional for FY18 and Annual Plan GDP(mp) target for FY19.
P: Provisional , R: Revised, T: Target
Notes:
1. SBP enhanced coverage & quality of external debt statistics w.e.f March 31, 2010. For revision study see link:
http://www.sbp.org.pk/ecodata/Revision-EDS.pdf
2. Debt and liabilities show end-period outstanding stock positions and debt servicing reflects principal and interest payments during the period.
3. For conversion into Pak Rupees from US Dollars, last day average exchange rates prepared by Domestic Markets & Monetary Management Department have been used for stocks and during the period average
exchange rates for debt servicing.
4. YoY growth external debt and liabilities stocks and servicing is based on the corresponding last year end period stocks and during the period servicing, respectively.

5: As part of annual revision of IIP 2017, data from Dec 31, 2017 to Dec 31, 2018 has been revised.
Contact Person: Iftikhar Ali Khan
Designation: Sr. Joint Director
Email: iftikhar.ali@sbp.org.pk
Phone: 021-32453682
Fax# 021-99221572
Feedback: http://www.sbp.org.pk/stats/survey/index.asp