Pakistan External Debt Reaches $135.1 Billion as China Remains Largest Creditor, World Bank Reports
Pakistan’s external debt nearly doubled between 2015 and 2025, reaching $135.1 billion, with China as its largest individual creditor, according to the World Bank’s International Debt Report 2026.
Fitch maintains Pakistan’s B- foreign currency rating, assigns Recovery Rating RR4
Fitch Ratings has maintained Pakistan’s long-term foreign currency debt rating at B- and assigned a Recovery Rating of RR4, reflecting the updated sovereign credit assessment framework introduced in September 2025.