Debt repayments under complete control, says SBP governor

In a move to soothe the financial market amid growing fears of default, State Bank of Pakistan Governor Jameel Ahmed has said the debt repayment situation is completely under control and all the external payment obligations will be met in time. While advising analysts to correct their views about debt repayments, Mr Jameel expressed full confidence that Pakistan will not default. In a podcast interview with SBP Chief Spokesman Abid Qamar on Thursday, Mr Jameel said at the outset of the current fiscal year we planned Pakistan would need $33 billion in financing during FY23. “With a projected $10bn current account deficit the country would need to repay $23bn,” he said. Out of this, we have already paid $6bn and $4bn was bilateral loans which were agreed upon for rollover. “Now we have to pay $13bn during the rest of this fiscal year,” he said.