The government has borrowed $8.123 billion from multiple financing sources during the first ten months (July-April) of 2022-23 compared to $13.033 billion borrowed during the same period of last fiscal year, showing a decline of 37.7 percent.
The Economic Affairs Division data shows that the country borrowed $900 million from foreign commercial banks during the ten months of the current fiscal year. However, no loans were borrowed from foreign commercial banks during April 2023. The country received $2.623 billion from foreign commercial banks during the same period last year.
The government procured $358.61 billion in external loans in April 2023. The country received $677.24 million under the head of “Naya Pakistan Certificate” during the first ten months of the current fiscal year including $64.93 million in April 2023.
The government has budgeted foreign assistance of $22.817 billion for the current fiscal year including $7.5 billion for foreign commercial banks.
The country received $4.135 billion from multi-laterals, $1.243 million from bilateral, and $1.166 billion from IMF during July-April 2022-23. The non-project aid was $6.497 billion including $5.337 billion for budgetary support and project aid was $1.625 billion.
Asian Development Bank (ADB) disbursed $1.975 billion during the period under review compared to the budgeted $3.202 billion for the entire fiscal year. ADB disbursed $35.20 million in April 2023.
China disbursed $127.89 million during the first ten months of the current fiscal year including $72.96 million in April against the budgeted $49.02 million for the entire fiscal year. China had disbursed $54.93 million in during the first quarter of the current fiscal year, however, no money was received in October, November, December, January, February, and March.
Saudi Arabia disbursed $982.28 million against the budgeted $800 million under the head of the oil facility during the first ten months. The USA disbursed $27.71 million during the period under review against the budgeted $32.49 million for the current fiscal year. Korea disbursed $21.31 million and France $32 million during the first ten months of the current fiscal year.
The IDA $1.173 billion against the budgeted $1.4 billion during the first ten months including $70.47 million in April, IBRD $151.64 million against the budgeted $1.246 billion and Islamic Development Bank disbursed $16.81 million against the budgeted $3.38 million for the current financial year. IsDB (Short-term) disbursed $161 million in the current fiscal year. AIIB disbursed $550.27 million in the current fiscal year so far, while ECO (Trade Bank) disbursed $54.12 million.
Source: Pro Pakistani
