# Pakistan's external debt hits $135.1 billion, nearly double 2015, World Bank report says

Source: Searchable (https://searchable.pk/news/economy/pakistans-external-debt-hits-dollar1351-billion-nearly-double-2015-world-bank)
Type: News article
Author: Searchable Editorial
Published: 6 Nov 2026
Updated: 6 Nov 2026
Retrieved: 6 Nov 2026

> China is the biggest government lender at $22.4 billion, and commercial loans cost Pakistan 8.6% against 3.6% from official lenders.

**Pakistan's external debt reached $135.1 billion at the end of 2025**, almost double the **$68.7 billion of 2015**, according to the World Bank's **International Debt Report 2026**, [Business Recorder reported](https://www.brecorder.com/news/40447691/pakistans-external-debt-doubles-over-a-decade-world-bank) on Friday. The stock rose 4% in 2025 alone. At today's [dollar rate](/data/usd-pkr) of about Rs 276.67, $135.1 billion is roughly **Rs 37.4 trillion**.

## Where Pakistan's $135.1 billion comes from

| Type of debt | Amount (end-2025) |
|---|---|
| Public and publicly guaranteed | $107.08 billion |
| Private, not guaranteed | $17.58 billion |
| Short-term | $10.45 billion |
| **Total** | **$135.1 billion** |

Inside the government's share, **multilateral lenders** (the World Bank, ADB and others) hold **$56.83 billion**, **bilateral lenders** (other governments) **$42.44 billion**, and **private creditors** such as bondholders and commercial banks **$7.81 billion**.

## The biggest lenders

1. **China:** $22.42 billion, still Pakistan's largest single government lender.
2. **World Bank** (including its IDA arm): $19.21 billion.
3. **Asian Development Bank:** $16.83 billion.
4. **Other bilateral lenders** combined: $11.85 billion.

The report adds that the **IMF disbursed $2.3 billion** to Pakistan in 2025 under the Extended Fund Facility and the Resilience and Sustainability Facility, and that China extended the maturity of about **$2 billion** that was due that year.

## Commercial money costs more than twice as much

The sharpest line in the report is the price gap:

- **Official lenders** (governments and multilaterals): average interest **3.6%**, maturity **16 years**, with four years' grace before repayments start.
- **Private lenders**: average interest **8.6%**, maturity **three years**, with one year's grace.

Every dollar borrowed commercially has to be repaid or rolled over far sooner, and at well over twice the rate. That is why the finance ministry has been trying to swap expensive short-term loans for longer, cheaper ones (see [Aurangzeb's plan to stretch out short-term debt](/news/economy/aurangzeb-targets-dollar1bn-plus-from-5-or-6-privatisations-this-year-and-plans)).

## What the ratios say

- External debt was **34% of gross national income** in 2025.
- **Debt service took 33% of export earnings**: a third of every dollar Pakistan earned abroad went on repayments and interest.
- Total external debt was **324% of exports**, more than three years of export income.

## What it means for you

Debt repayments compete with imports for the same dollars, so a heavy repayment calendar keeps pressure on the rupee and on the State Bank's reserves, which [rose by $39 million to $21.56 billion](/news/economy/pakistan-foreign-exchange-reserves) in the week to 30 October. A weaker rupee shows up in the price of petrol, phones and anything imported. Follow the [dollar to rupee rate](/data/usd-pkr) and [petrol price](/data/petrol-price) pages for the day-to-day effect, and use our [currency converter](/tools/finance/currency-converter) to turn any dollar figure into rupees.

## Frequently asked questions

**How much is Pakistan's external debt in 2025?**

$135.1 billion at the end of 2025, up 4% in the year and up from $68.7 billion in 2015, according to the World Bank's International Debt Report 2026.

**Who is Pakistan's biggest lender?**

China, with $22.42 billion of government debt, followed by the World Bank ($19.21 billion) and the Asian Development Bank ($16.83 billion).

## Sources

- Pakistan's external debt doubles over a decade: World Bank (Business Recorder): https://www.brecorder.com/news/40447691/pakistans-external-debt-doubles-over-a-decade-world-bank
- International Debt Report (World Bank): https://www.worldbank.org/en/programs/debt-statistics/idr/products

How to cite: "Pakistan's external debt hits $135.1 billion, nearly double 2015, World Bank report says", Searchable, 6 Nov 2026, https://searchable.pk/news/economy/pakistans-external-debt-hits-dollar1351-billion-nearly-double-2015-world-bank