Pakistan's external debt rises

ISLAMABAD, May 16 (Reuters): Pakistan's external debt and liabilities (EDL) increased by about 10 per cent to $91.7 billion in the nine months to April, the central bank said, amid growing pressure on the government to rein-in a yawning current account deficit.

Pakistan's economy, growing at its fastest pace in 13 years at close to 6.0 per cent, has been showing signs of distress in recent months due to balance of payments pressures, while the International Monetary Fund (IMF) has warned that growth is expected to slow down in the next fiscal year.

The State Bank of Pakistan (SBP) said EDL increased by over $8.3 billion since start of July 2017, while public external debt reached $72 billion.

The overall public debt, which includes domestic and external borrowings and liabilities, touched 28,297 billion rupees ($245 billion) at the end of March 2018, a figure which the central bank calculated using the rupee exchange rate of 115 per US dollar.