The Pakistan Tehreek-e-Insaf (PTI) administration (2018–2022) paid the most interest on its debts to the same lender, according to an official document, but the Pakistan People’s Party (PPP) regime (2008–2013) continues to be the largest borrower from the International Monetary Fund (IMF) to date.
The PPP administration obtained loans of 5.23 billion in Special Drawing Rights (SDRs), or more than $7.72 billion, according to a document submitted by the Ministry of Economic Affairs to the Standing Committee of the National Assembly.
The paper further discloses that the IMF received repayments totaling more than $3 billion from 2008 to 2013. Furthermore, the PPP reimbursed the IMF for interest exceeding $484 million.
However, the PML-N is not far below the PPP in terms of contributing to the nation’s debt, having borrowed 4.39 billion SDRs during the Nawaz Sharif-led government’s tenure from 2013 to 2018. Over the course of five years, this sum equals more than $6.48 billion.
During their time, the PML-N-led government paid over $317 million in interest and returned loans totaling over 4 billion SDRs, or $5.92 billion in cash.
According to the document, the PTI administration obtained a loan from the IMF for more than 4.5 billion SDRs, or $6 billion. During this time, the PTI administration paid back the IMF $791 million in interest in addition to nearly $4.02 billion, or 2.72 billion, in SDRs.
Surprisingly, the PTI administration turns out to have paid more interest on the IMF loans than both the PPP and the Pakistan Muslim League-Nawaz (PML-N) did throughout their two terms in office.
