ISLAMABAD  -  Pakistan has borrowed $2.73 billion from international donors during the first four months (July to October) of the current fiscal year. The country has received the first tranche of $1.03 billion from the International Monetary Fund (IMF). Meanwhile, Pakistan has received $1.7 billion from other bilateral and multilateral sources during the first four months of the current fiscal year, according to the latest data of Ministry of Economic Affairs.

The government had budgeted $19.393 billion from multiple financing sources for the fiscal year 2024-25 including $19.216 billion loans and $176.29 million grants. Pakistan has received only 14 percent of the annual budgeted amount in July to October period of the ongoing financial year. In the month of October, the country received $414.9 million from different sources. The country received $720.99 million from multilateral and $259.8 million from bilateral during July-October 2024. The country received $542.1 million under the head of the “Naya Pakistan Certificate” and $200 million from commercial banks during the first four of the current fiscal year 2024-25.

The break-up showed that the Asian Development Bank (ADB) released $173 million during the period under review compared to the budgeted $1.651 billion for the fiscal year 2024-25. The IDA disbursed $266.6 million in July-October against the budgeted $1.525 billion for the fiscal year 2024-25 and IBRD $97.2 million against the budgeted $550.22 million. The IsDB (short-term) disbursed $100 million during the first four months against $500 million for the fiscal year 2024-25 and AIIB disbursed $17.41 million, while IFAD disbursed $15.5 million against the budgeted $40.45 million for the fiscal year 2024-25. China disbursed $97.58 million in July to October period. The government has budgeted $134.18 million from China for the fiscal year 2024-25. Saudi Arabia disbursed $6.35 million in the first four months of fiscal year 2024-25 against the budgeted estimates of $76.02 million for the entire fiscal year. The USA disbursed $37.72 million in the July-October period against the budgeted $20.87 million for the fiscal year 2024-25. The International Monetary Fund (IMF) has projected Pakistan’s gross external financing needs at $18.813 billion for the current fiscal year 2024-25 which is 4.7 percent of the GDP. The Fund in its latest report “2024 Article IV Consultation and request for an Extended Arrangement under The Extended Fund Facility” noted that the country’s external financing need would be $20.088 billion in the fiscal year 2025-26. The report also noted that available financing is $18.175 billion for the current fiscal year 2024-25.