Pakistan peoples party acquires most IMF debt, PTI leads in interest payments

A report by the Pakistan Federal Ministry of Economic Affairs revealed that the previous government led by the Pakistan Peoples Party (PPP) borrowed the most from the International Monetary Fund (IMF), with a loan exceeding USD 7.72 billion, according to The Express Tribune. The data, released by the Ministry, detailed which political party’s government in Pakistan borrowed the most from the IMF and which repaid the most loans and interest.

During a briefing to the National Assembly’s Standing Committee, officials from the Ministry of Economic Affairs stated that the PPP borrowed over USD 7.72 billion from the IMF, placing it at the top of the list. The Pakistan Muslim League-Nawaz (PML-N) followed with a loan of USD 6.48 billion, while the Pakistan Tehreek-e-Insaf (PTI) ranked third, borrowing USD 6 billion, just USD 480 million less than the PML-N.

In terms of repayments, the PTI government led in interest payments, paying USD 791 million in a single term. The PML-N government, however, repaid the most, with over USD 5.92 billion paid back to the IMF, making it the leader in this category.

From 2008 to 2013, the PPP government borrowed over 5.23 billion in Special Drawing Rights (SDR) from the IMF, amounting to more than USD 7.72 billion in US currency. The PPP repaid over USD 3 billion of the IMF loan and paid more than USD 484 million in interest.

Between 2013 and 2018, the PML-N government borrowed 4.39 billion SDRs, equivalent to more than USD 6.48 billion, and repaid more than 4 billion SDRs, amounting to over USD 5.92 billion, along with USD 317 million in interest.

From 2018 to 2022, the PTI government borrowed over 4.05 billion SDRs, approximately USD 6 billion in loans. During this period, the PTI repaid 2.72 billion SDRs, equivalent to USD 4.02 billion, and topped the list of interest payments to the IMF with payments of USD 791 million.