Foreign debt in statistics.

Presently Pakistan's external debt and liabilities reached historical level of $113.8 billion at the end of September 2020, due to fresh borrowing from multilateral and bilateral sources on account of public debt. The economists reveal that economic growth and development is a main goal of most developing states; hence resources are mobilized from various sources counting external borrowing for investment into viable projects for growth acceleration.

Sustainable economic growth is a predominant concern for all states, particularly developing economies that frequently face burgeoning fiscal deficits mostly driven by higher levels of debt service, chiefly external debt servicing and widening current account deficits. Moreover, the latest statistics issued by the State Bank of Pakistan (SBP) identified that Pakistan's foreign debt and liabilities continue to increase and surged by $945 million during the first quarter (July-Sep) of this fiscal year (FY21). Statistics showed that Pakistan's total external debt and liabilities have surged to $113.803 billion as on September 30, 2020 as against to $112.858 billion as on June 30, 2020. However, as percent of GDP, total external debt and liabilities fell by some 4 percent to 41.4 percent in the first quarter of FY21. It is also recorded that the total stocks of debt and liabilities comprises Paris Club, Euro Sukuk global Bond, IMF loan, foreign exchange liabilities; Public Sector Enterprises (PSEs) guaranteed debt and non-guaranteed debt, banks borrowing, non-residential deposits, private sector guaranteed/non-guaranteed debt and foreign exchange liabilities and debt liabilities to direct investors.

Statistics also identified that with 78 percent share, public external debt increased by one percent during the first quarter of this fiscal year. Out of total external debt and liabilities, external public debt reached at $88.938 billion in September 2020 as against to $87.885 billion end of June 2020, depicting a rise of reached at $ 1.053 billion. During the period under review, Paris Club debt rose from $10.924 billion to $11.203 billion. However, IMF debt was slightly fell by $76 million to $7.604 billion. In addition, Public Sector Enterprises (PSEs) debt also went down from $4.9 billion to $4.77 billion. The banks' borrowing reached at $4.356 billion and private sector debt at $11.438...