Pakistan’s external debt increased further during the current fiscal year as the country secured $6.59 billion in foreign loans in the first nine months of 2025–26, according to official documents.
The records show that Pakistan borrowed Rs1,828 billion between July and March. This marks a sharp rise compared with the same period of the previous fiscal year, when foreign borrowing stood at Rs1,495 billion, equivalent to $5.37 billion.
Officials said foreign borrowing during the nine-month period rose by Rs332 billion year-on-year, reflecting increased reliance on external financing amid fiscal constraints.
IMF funds kept separate
The documents clarify that the borrowing figure does not include funds received from the International Monetary Fund.
Pakistan separately received $1.2 billion from the IMF during the period under review, which was disbursed under an ongoing support programme.
Saudi support adds to inflows
In addition to loans, Pakistan received $3 billion in new deposits from Saudi Arabia, providing temporary relief to foreign exchange reserves.
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Saudi Arabia also extended an oil financing facility worth Rs254 billion, allowing Pakistan to defer payments for petroleum imports.
Grants and development financing
During the July–March period, Pakistan received more than Rs28 billion in grants, the documents show.
The country also secured Rs1,156 billion in non-project aid, while over Rs699 billion was received for various development projects.
The figures underline the scale of Pakistan’s external financing needs as it navigates rising debt obligations and pressure on public finances during the ongoing fiscal year.
