Pakistan has paid a hefty $5.66 billion in interest on foreign Euro and Sukuk bonds during the last 19 years.
During this time, the nation has also reimbursed the $7.50 billion principal amount. During a briefing to the Senate Standing Committee on Economic Affairs, representatives from the State Bank and the Ministry of Finance disclosed this information.
Pakistan currently owes $6.8 billion, which needs to be paid off by June 2024. Pakistan issued its last foreign bond in January 2022, after issuing $2.5 billion in bonds in April 2021. These bonds had extremely high interest rates, which ranged from 5.75% to 8.75%.
