The government has borrowed $7.407 billion from multiple financing sources during the first eight months (July-February) of 2022-23 (FY23) compared to $12.178 billion borrowed during the same period of last fiscal year.
The Economic Affairs Division data shows that the government has budgeted foreign assistance of $22.817 billion for the current fiscal year including $7.5 billion from foreign commercial banks.
The government procured $1.271 billion in external loans in February 2023. The country received $538.42 million under the head of Naya Pakistan Certificate during the first eight months of the current fiscal year including $72.07 million in February 2023.
The country received $3.852 billion from multilateral, $949.66 million from bilateral, and $1.166 billion from IMF during July-February FY23. The non-project aid was $6.084 billion including $5.124 billion for budgetary support and project aid was $1.322 billion.
Asian Development Bank (ADB) disbursed $1.929 billion during the period under review compared to the budgeted $3.202 billion for the entire fiscal year. ADB disbursed $12.85 million in February 2023.
China disbursed $54.93 million during the first quarter against the government budgeted estimates of $49.02 million for the current fiscal year, however, no money was received in October, November, December, January, and February. Saudi Arabia disbursed $782.28 million against the budgeted $800 million. The US disbursed $20.83 million during the period under review against the budgeted $32.49 million for the current fiscal year. Korea disbursed $19.79 million and France $27.36 million during the first eight months of the current fiscal year.
The IDA disbursed $1.019 billion against the budgeted $1.4 billion during the first eight months including $338.63 in February, IBRD $135.02 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 has disbursed $539.02 million in the current fiscal year so far.
The country borrowed $900 million from foreign commercial banks during the first eight months of FY23 including $700 million in February, shows the Economic Affairs Division data.
The country also received $1.166 billion from the International Monetary Fund (IMF) during the period under review.
Source: Pro Pakistani