LONDON, Dec 3: Thames Water is working with the government and regulators to secure a potential rescue after its half-year results highlighted ongoing financial instability. Britain’s largest water company has already drawn down £1.43 billion ($1.89 billion) of a £1.5 billion lifeline and will need access to a second tranche early next year, though this […]
Debt
Pakistan’s total debt quadruples in a decade
Pakistan’s total debt has surged fourfold over the past ten years, according to an official report by the Ministry of Finance. The report reveals that the country’s debt-to-GDP ratio climbed from 60% in 2016 to 71% in 2025. In the current fiscal year, 89% of the federal government’s net income was spent on debt servicing, […]
Pakistan’s debt hits Rs75.3 trillion amid rising taxpayer registration
The Finance Ministry reported that Pakistan’s total domestic and external debt reached Rs75.3 trillion in February 2025. This figure shows an increase from Rs74.4 trillion in January 2025 and Rs74 trillion in December 2024. The current debt comprises Rs52.2 trillion in domestic debt and Rs24.2 trillion in external debt. This rise emphasizes the ongoing fiscal […]
Banks forced to hold on to Twitter deal debt, sources say
NEW YORK: The banks providing $13 billion in financing for Tesla CEO Elon Musk’s acquisition of Twitter have abandoned plans to sell the debt to investors because of uncertainty around the social media company’s fortunes and losses, people familiar with the matter said. The banks are not planning to syndicate the debt as is typical […]
Wealthy nations cancel $14 bn of Sudan debt
A group of rich countries said on Friday that it would cancel much of the debt owed by Sudan to help the country back into the international fold. Talks that ended late on Thursday “allowed us to reach an historic agreement… to manage Sudan’s debt”, said Emmanuel Moulin, head of the Paris Club of roughly […]
IMF approves $2.5 bn loan, debt relief deal for Sudan
The IMF on Tuesday approved a $2.5 billion loan for Sudan, and with the World Bank sealed a landmark deal that unlocks nearly $50 billion in debt relief for the impoverished African nation. The announcement came after the International Monetary Fund finalized an agreement with 101 donor countries allowing Sudan to clear roughly $1.4 billion […]
Sri Lanka eyes tougher import controls to halt forex crisis
Sri Lanka’s central bank on Monday called for further import restrictions to address a crippling foreign exchange crisis, following a string of loans from Asian neighbours including impoverished Bangladesh. The island nation’s foreign exchange reserves were badly hit last year as the Covid-19 pandemic hit and the local currency came under intense pressure and […]
Turkmenistan says China gas pipeline debt paid off
Turkmenistan’s autocrat leader said that his country’s debts to China for a multi-billion-dollar gas pipeline and another gas project had been paid off “in full”, state media reported Saturday. China has invested billions in the development of Turkmenistan’s gas industry, establishing itself as the isolated country’s number one destination for exports. Beijing’s most important projects […]
$2.2 billion received from China
The State Bank of Pakistan (SBP) has received US 2.2 billion from China, according to a tweet by the central bank on Monday. “The SBP has received RMB 15 billion value, equivalent to $2.2 billion, as proceeds of the loan obtained by government of Pakistan from China,” the tweet added. With this deposit, the country’s […]