Posted 11/26/2023, 5:30:11 AM
IMF Lowers Pakistan Debt Forecast by $8 Billion on Lower Financing Needs
- IMF projects Pakistan's external debt to be around $131 billion by June 2025, $8 billion less than previous forecasts
- Downward revision due to reduced needs for debt repayments and lower current account deficit
- IMF has lowered projected external financing needs by $5.4 billion for 2024-25 fiscal year
- Reduction partly due to expected rollover of some debt repayment by China's Exim Bank
- IMF also adjusted projections for remittances and exports downwards for next fiscal year