The Federal government has borrowed $2.234 billion loans from multiple financing sources from July to September in the current fiscal year 2022-23.
According to the Economic Affairs Division, Pakistan has received $682.30 million as well as $385.99 million from multilateral and bilateral sources respectively in the first quarter.
Similarly, the International Monetary Fund has also disbursed $1.166 billion from July-September 2022.
Document states that the government has also procured $625.85 million in external loans in September 2022.
The country received no loans from foreign commercial banks during the first quarter of the current fiscal year 2022-23, compared to $457.54 million received during the same period of last year.
China disbursed $54.93 million in the first quarter against the government budget estimates of $49.02 million for the current fiscal year similarly, Saudi Arabia disbursed $300 million against the budgeted $800 million.
The US also disbursed $9.95 million during the period under review against the budgeted 32.49 million for the current fiscal year. Korea disbursed $15.65 million, and France $4.44 million during the first quarter of the current fiscal year.
The Asian Development Bank (ADB) disbursed $112.73 million out of the $3.202 billion budgeted for the current fiscal year.
The International Development Association (IDA) disbursed $416.49 million against the budgeted $1.4 billion, International Bank for Reconstruction and Development (IBRD) $28.90 million against the budgeted $1.246 billion and Islamic Development Bank disbursed $11.50 million against the budgeted $3.38 million for the current financial year.
It is pertinent to note that the government has budgeted foreign assistance of $22.8 billion for the current fiscal year including $7.5 billion in foreign commercial banks, $22.655 billion in loans, and $161.46 million in grants.
