Pakistan largest recipient of loan from China, IMF: World Bank report

– A World Bank report states that Pakistan is the largest borrower from China and the International Monetary Fund (IMF). According to the World Bank’s International Debt Report released on Tuesday, China is Pakistan’s largest creditor with a debt of $29 billion, and Islamabad is among the top recipients from the IMF. . has been added. The report cited Pakistan’s high debt-to-export and debt-to-income ratio as a sign of weakness. A World Bank report puts Pakistan’s total external debt at $130.85 billion in 2023, which is 352 percent of its total exports and 39 percent of its gross national income (GNI). External credit provision accounted for 43 percent of exports and 5 percent of GNI. China’s debt is $28.786 billion or 22 percent of total debt, followed by the World Bank’s $23.55 billion, which is 18 percent, and the Asian Development Bank’s $19.63 billion, which is 15 percent. According to the report, Saudi Arabia is the second largest bilateral lender. Pakistan has about $9.16 billion or 7 percent. Of the total external debt stock, $58.88 billion or 45 percent is held by bilateral creditors and $60.2 billion (46 percent) by multilaterals, while 9 percent is held by private creditors headed by bondholders. with 8 percent.