Country’s burden has escalated in 2 years: External debt,

ISLAMABAD: The external debt and liabilities of the country crossed $55.266 billion in January 2010 from $43.141 billion in the corresponding period of 2008, showing a net increase 28 percent in the last two years of the present government.

The total medium and long-term external debt and liabilities on January 2010 reached $42.914 billion and short-term debt remained at $320 million. The total sum of these two loans is $43.234 billion and is known as Public and Publicly Guaranteed Debt.

Medium and long-term debt: It further consists of external loan taken from sources like multilateral, bilateral, issuing of bonds, commercial banks and defence.

Multilateral: From January 2008 to January 2010 the government took loan from multilateral bases at $23.734 billion. The break up of this category is $11.249 billion from Asian Development Bank (ADB), $1.783 billion from International Bank for Reconstruction and Development (IBRD) and $10.109 billion from International Development Association (IDA).

From other sources the government took $593 million till January 2010. These sources are European Investment Bank (EIB) $64 million, Islamic Development Bank (IDB) $293 million, International Fund for Agricultural Development (IFAD) $189 million, NORD Development Fund $16 million, and OPEC fund $24 million.

Bilateral: Total loan from bilateral bases reached $16.665 billion on January 2010. It further composed of two sources-Paris Club Countries ($14.271 billion) and Non-Paris Club Countries ($2.394 billion).

Paris Club Countries included various countries. These are Austria $72 million, Belgium $36 million, Canada $516 million, Finland $6 billion, France $2.298 billion, Germany 1.937 billion, Italy $109 million, Japan $6.691 billion, Korea $476 million, Netherlands $124 million, Norway $21 million, Russia $121 million, Spain $80 million, Sweden $153 million, Switzerland $108 million, United Kingdom $10 million, United States $1.514 billion.

Non-Paris Club Countries’ external debt and liabilities reached $2.394 billion till January 2010. These countries are China $1.661 billion, Kuwait $108 million, Libya $5 million, Saudi Arabia $499 million and United Arab Emirates $121 million.

Bonds: Total liabilities on issuing different bonds etc reached $2.150 billion.

Commercial banks: The foreign debt and liabilities reached to $166 million.

Defence: External debt and liabilities reached $199 million on January 1, 2010.

Short-term debt: Total short-term debt from IBD reached to $320 million.

Banking sector debt: Total banking sector debt of the country reached $196 million till January 2010, which consists of long-term $126 million and short-term $70 million.

Private sector debt: Total private sector debt reached $2.942 billion till January 2010, official figures available with Daily Times revealed. The sub-component of this sector is Multilateral Creditors at $416 million, Paris Club $1.264 billion, Non-Paris Club $260 million, PIA (Hire/purchase (long-term), SBP $865 million and bonds $137 million.

International Monetary Fund (IMF) debt: Total IMF debt and liabilities reached $7.494 billion by January 1, 2010.

Deposits with SBP: Under this category, the government foreign debt and liabilities reached $1.400 billion.

Source: http://www.dailytimes.com.pk/default.asp?page=2010\03\16\story_16-3-2010_pg5_1