External Debt Rises by $5 Billion to $90.86 Billion in Q4 FY26

The government’s external debt and liabilities increased by nearly $5 billion during the fourth quarter of FY26, reaching $90.86 billion by June 30, 2026, according to State Bank of Pakistan data.

Pakistan’s gross external debt and liabilities stood at $138.85 billion at the end of FY26, up $3.62 billion over the year. The figure was $135.22 billion at the end of Q1 FY26 and around $137 billion during Q2 and Q3.

The sharpest increase came in Q4, when government external debt and liabilities climbed $4.98 billion, from $85.88 billion in Q3 to $90.86 billion.

Government long-term external debt and liabilities also increased significantly, rising from $74.27 billion in Q3 to $81.03 billion in Q4. The corresponding figures for Q1 and Q2 were $85.1 billion and $85.5 billion, respectively.

The government has continued to raise external financing through multilateral lenders and bilateral partners, while also returning to international capital markets through bond issuances.

Pakistan has further expanded its access to international funding by entering China’s capital market for the first time with the launch of Panda Bonds.