In a notice dated July 19, the SEC released for public comment the draft guidelines on the adoption of a framework for accreditation and selection of
external auditors.
The PTI government has already returned $9.5 billion worth of
external debt in the last fiscal year 2018-19, said Federal Minister for Revenue Hammad Azhar last week.
Pakistan's
External Debt and Liabilities - Outstanding In 2018 (Mn US$)
Compared to end-September 2018, the Philippines registered a 39 percent increase in net
external liability.
Pakistan's
external debt is rapidly increasing as successive governments heavily depended on securing foreign debts instead of increasing exports.
The BSP said the country's total
external financial liabilities rose as a result of the combined increases in the other investments (6.8 percent), foreign portfolio investments (3 percent) and foreign direct investments (2.2 percent).
In a recent report, the CBE stated that the
external debt to the gross domestic product (GDP) ratio stood at about 37%, stressing that it is still within the safe limits according to international standards.
"Countries with large current account deficits, high
external debt repayments and substantial foreign-currency government debt are most exposed to the impact of a stronger US dollar," said Alastair Wilson, Moody's global managing director of the Sovereign Risk Group.
The country's net
external liability position as of end-December 2017 was higher by 55 percent than the prior year's level of US$28 billion.
The higher
external debt reflected the increase in loans, interbank borrowing and non-resident (NR) holdings of domestic debt securities which was partially offset by valuation effects following the strengthening of the ringgit against selected major and regional currencies during the fourth quarter.
At the end of March 2017, India's
external debt stock stood at USD 471.8 billion and on a sequential basis, total
external debt at end-September 2017 increased by USD 10.0 billion from the end-June 2017 level.
A Finance Ministry spokesman, in a statement here, also denied the reports which stated that Pakistan's total
external debt had reached US$79.2 billion by June 2017 and that loans amounting to US$10.1 billion were obtained during the last year only.
The nation's total
external liability reached $400.4 billion in the third quarter, up $8.6 billion from a quarter earlier.
Bulgariaas net
external debt totalled EUR 11.89 B at the end of May, down by EUR 2.28 B, or 16.1% compared to end-2014 due to both the decline in gross
external debt and an increase in gross
external assets by EUR 690 M.
