Share of Foreign debt has increased to 47% of total debt by April 2022​

Abstract

Foreign debt as a percentage of total outstanding government debt increased from 37% at the end of 2021 to 47% in the first quarter of 2022. On average for the past decade domestic debt has accounted for 56% and foreign debt has accounted for 44% of total outstanding government debt. ​ The rupee value of the country’s foreign debt increased by 68% from February to April 2022, following the depreciation of the exchange rate in March 2022. This was the main contributing factor for the increase in total outstanding government debt. ​