Until 2059-2060 fiscal year, Myanmar is expected to repay original loans and interests for the  total external debt of 10.20 billion USD, according to Union Parliament Public Joint Accounts Committee’s the findings and report on the mid-term debt management strategy 2018.

Most of external debts have the 10-year suspension period and the 40-year repayment period. Myanmar will repay the original loans and interest from 2018 (from April to September) to 2059-2060 FY.

Myanmar will repay more than 300 million USD in 2018 (from April to September),  about 700 million USD in 2018-2019 FY, about 900 million USD each from 2019-2020 FY to 2021-2022 FY, about 1,000 million USD in 2022-2023 FY, about 900 million USD from 2023-2024 FY to 2026-2027 FY, more than 700 million USD each from 2027-2028 FY to 2029-2030 FY, about 600 million USD in 2030-2031 FY, about 400 to 500 million USD each from 2031-2032 to 2036-2037 FY,  about 300 to 400 million USD each from 2037-2038 to 2052-2053 FY, about 100 to 200 million USD each from 2053-2054 FY to 2054-2055 FY and less than 100 million USD each from 2055-2056 FY to 2059-2060 FY.

On March 31, 2018, Myanmar had an external debt of 10.20 billion USD—a loan of 1,788 million USD from the international organizations and 8,412.2 million USD in the government-to-government loans (a loan of 3,996.7 million USD from Paris Club Member Countries and 4,415.5 million from non-Paris Club Member Countries).

Most of external debts are the government-to-government loans which accounts for 82.5 per cent of the total external debts. In addition, they are soft loans. The amount of loans with the fixed interest rates accounts for 97 per cent of the total external debts.

The average interest rate of external debt is 1.65 per cent while the interest rate ranges between 0 and five per cent.

Euro accounts for 32 per cent of the external debts, Japanese Yen, for 25 per cent, the SCR for 16 per cent, USD for 14 per cent, Chinese Yuan for 12 per cent and other for one per cent.

Myanmar is working to maintain the local and external debts to GDP ratio at 40 per cent. The external debt to the GDP ratio was 16.7 per cent in 2015-2016 FY, 13.4 per cent in 2016-2017 FY and 15.4 per cent in 2017-2018 FY.

Myanmar’s external debts account for 40 per cent of the total debts. Efforts are being made to reduce the possible losses as the repayment of debts may drive up the country’s budget expenditures due to the local currency depreciation.