Pakistan’s Financial Odyssey with IMF: A Burden of Billions

Pakistan has paid over USD 3.6 billion in interest to the IMF over the last 40 years, as disclosed by the Ministry of Finance. The nation has borrowed around USD 29 billion in total, repaying over USD 21.72 billion. This financial relationship continues to weigh heavily on the country's economy.

Pakistan has paid over USD 3.6 billion in interest on loans from the IMF in the last 40 years, the country's finance ministry disclosed to Parliament. This information came to light during a Senate Standing Committee on Economic Affairs meeting on Thursday.

The Ministry of Finance and State Bank of Pakistan officials revealed that Pakistan has borrowed approximately USD 29 billion from the IMF over the past three decades, repaying more than USD 21.72 billion. The interest payments alone amount to over Rs 1,000 billion in Pakistani currency.

In the last four years, Pakistan borrowed more than USD 6.26 billion from the IMF, repaying USD 4.52 billion and paying over USD 1.10 billion in interest. Additionally, Pakistan borrowed USD 1.35 billion in Special Drawing Rights (SDRs) in 2024, repaying USD 646.69 million in SDRs. The committee chairman, Senator Saifullah Abro, remarked that the country's financial woes were a shared responsibility, and the Senate sought detailed accounts of all IMF programs.