ISLAMABAD - Pakistan has borrowed a $9.796 billion loan from international lenders in the first nine months (July to March) of the current fiscal year. Pakistan has received a $9.796 billion loan from international lenders in the July to March period of the current fiscal year.
The country has received $6.899 billion in budget and project financing and another $2.2 billion came in State Bank of Pakistan’s account. In the month of January this year, the country had borrowed only $218.53 million from the International lenders.
The government had budgeted $17.619 billion from multiple financing sources for the current fiscal year including $17.384 billion loans and $234.60 million grants. The govt received only 55.6 percent in the period from July to March in the current financial year. According to the latest data, the country has received $508 million as CATIC (PAF), $2.738 billion from multilateral, $3.61 billion from bilateral, $781.5 million from Naya Pakistan Certificate and $2 billion as time deposit loan in the first nine months of this fiscal year.
Saudi Arabia disbursed $595.18 million against the budgeted $600 million under the head of oil facility during July-March 2023-24. Saudi Arabia disbursed another $62.03 million in the current fiscal year so far. The USA disbursed $36.01 million in the first nine months against the budgeted $ 21.60 million for the fiscal year. Korea disbursed $39.89 million and France $36.42 million during the current fiscal year. The IDA disbursed $ 1.292 billion in July- March against the budgeted $ 1.489 billion for the current fiscal year and IBRD $163.15 million against the budgeted $ 840.36 million. The IsDB (Shortterm) disbursed $ 200 million in July-March against the budgeted $500 million for the current fiscal year and AIIB disbursed $600 million, while IFAD disbursed $25.60 million against the budgeted $ 42.68 million for the current fiscal year.
Pakistan is expecting to receive more inflows from international financial institutions in the next few weeks. The International Monetary Fund (IMF) would approve the remaining last tranche of $1.1 billion for Pakistan by the end of current month. Meanwhile, other international financial institutions might also release funds for Pakistan.