Pakistan's IMF Repayment Schedule: $10.81 Billion Owed, Peak of $2.47 Billion in 2028

Pakistan owed the IMF SDR 7.99 billion on 30 September 2026, about $10.81 billion. Under the loans already taken, it must pay back about $2.36 billion in 2027 and $2.47 billion in 2028, interest included. Those are the two heaviest years in the IMF's own schedule.

We read the figures on the IMF's Financial Position in the Fund page for Pakistan, dated 30 September 2026. The IMF works in SDRs, its own unit, so we turned them into dollars at the IMF rate for 9 October 2026, when one SDR was worth $1.35326.

This is the other side of the IMF story. Every new tranche adds money now and a repayment later.

Pakistan owes the IMF about $10.81 billion

The IMF lists SDR 7,990.93 million of Pakistan's loans still outstanding on 30 September 2026. That is about $10.81 billion. It comes from three loans: the 2023 Stand-By Arrangement, the extended loans, and the climate loan.

The 2023 Stand-By loan was the short bridge that kept Pakistan going before the current programme. It was fully drawn. Stand-By loans are short loans, repaid within 3¼ to 5 years under IMF rules, so this one falls due over the next few years.

Repayments peak at about $2.47 billion in 2028

The IMF's schedule shows Pakistan paying SDR 1.75 billion in 2027 and SDR 1.83 billion in 2028, principal and charges together. In dollars that is about $2.36 billion and $2.47 billion. Payments then fall to about $1.66 billion in 2029.

Over the five years shown, that adds up to SDR 6.05 billion, about $8.18 billion. About $6.44 billion of it is principal. The rest, about $1.74 billion, is interest and IMF charges.

The schedule will grow as new tranches arrive

The IMF builds this table only from loans already drawn. Each new payment, such as the $1.2 billion fourth review tranche, adds future repayments. So the 2030s will carry more than the table shows today.

Most of the outstanding debt falls due after 2030 anyway. Of the SDR 7.99 billion owed, about SDR 4.76 billion is principal due from late 2026 to 2030. The other SDR 3.23 billion, about $4.37 billion, is due later.

The current programme is still paying in. Pakistan had drawn about $4.53 billion from it by 30 September, and roughly $2.79 billion more could come after the fourth review. We broke that down in our tracker of how much IMF money Pakistan has received.

2027 is the year to watch because the programme ends then

The current IMF arrangements are listed to expire on 24 October 2027. That is in the middle of a year when Pakistan owes the IMF about $2.36 billion. After the programme, there are no new IMF payments to offset those outflows unless a new deal is signed.

That is the real point of the table. In 2027 the money still to come from the programme and the repayments are of similar size. In 2028 Pakistan would pay about $2.47 billion and draw nothing from the IMF unless a new deal is signed. That money has to come from reserves, other lenders or market borrowing.

For scale, the State Bank held $21.45 billion in reserves on 2 October 2026. The 2028 IMF bill alone would be about 11.5 per cent of that. The Finance Ministry's own figures on interest and public debt are in our reading of the Annual Debt Review for FY26.

You can check the repayment schedule yourself in 4 steps

The IMF publishes this schedule free for every member country. It is updated at each month end. Here is how to find Pakistan's:

1. Open the IMF's members' financial data by country page.
2. Pick Pakistan and the latest month end date.
3. Scroll to section VI, "Projected Payments to Fund".
4. Multiply the SDR totals by the day's SDR rate to get dollars.

Section IV on the same page shows the outstanding loans. If section VI ever shows "overdue obligations", that means a missed payment for more than three months. Pakistan's page shows none.

Common questions

How much does Pakistan owe the IMF?

SDR 7,990.93 million on 30 September 2026, about $10.81 billion at the 9 October 2026 rate.

How much will Pakistan repay the IMF in 2027?

About $2.36 billion: SDR 1,358.33 million of principal and SDR 388.33 million of charges, on loans already drawn.

Which year has the biggest IMF repayment?

2028, at SDR 1,825.34 million, about $2.47 billion, under the current schedule.

Does Pakistan have any overdue payments to the IMF?

No. The IMF page shows no overdue obligations for Pakistan as of 30 September 2026.

Why are IMF amounts given in SDR?

The IMF lends and collects in SDRs, a unit based on five currencies. Pakistan's dollar cost moves with the SDR rate.

How we verified this

What we checked, where we read it, and what we could not confirm.

Last checked 10 October 2026, about 6:30 am PKT. We read the IMF's Pakistan Financial Position in the Fund as of 30 September 2026 and the IMF's SDR valuation for 9 October 2026. All dollar conversions, totals and shares are our own arithmetic on those pages.