ISLAMABAD  -  Pakistan has received only $714.7 million as foreign loan from the international community during first two months (July and August) of the current fiscal year. The country has received only $714.74 million from multiple financing sources during July-August period of the fiscal year 2024-25 as compared to $3.206 billion borrowed during the same period of FY2023-24. The amount is only 3.68 percent of the annual budgeted amount of $19.393 billion, which is estimated for the current fiscal year.

Pakistan’s foreign exchange reserves would improve after receiving loan tranche from the IMF. The country would also receive more funds from the bilateral and multilateral sources after IMF’s loan approval for Pakistan. In the absence of the International Monetary Fund (IMF) programme, the foreign inflows were almost dried in the first month of the current fiscal year as Pakistan received only $714 million under the foreign loans in July and August this year. According to the latest data of Ministry of Economic Affairs, the country has received $270.53 million in August 2024 from different sources. Meanwhile, the country received $259.04 million under the head of the “Naya Pakistan Certificate” during the first two months of current fiscal year 2024-25. The country received $292.99 million from multilaterals and $162.70 million from bilateral sources during July-August 2024. The non-project aid was $273.12 million including $14.07 million for budgetary support and project aid was $441.62 million during the first two months of current fiscal year.

The Asian Development Bank (ADB) disbursed $96.20 million during the period under review compared to the budgeted $1.651 billion for the fiscal year 2024-25. The IDA has provided $147.86 million in July-August and IBRD $28.88 million against the budgeted $550.22 million. The AIIB disbursed $8.73 million, while IFAD disbursed $9.59 million against the budgeted $40.45 million for the fiscal year 2024-25. China has given $96.76 million. The government has budgeted $134.18 million from China for the fiscal year 2024-25. Saudi Arabia disbursed $2.69 million in the first month of fiscal year 2024-25 against the budgeted estimates of $146.54 million for the entire fiscal year. The USA disbursed $30.94 million in the first two months against the budgeted $20.87 million for the fiscal year 2024-25.