Pakistan Incurred $1.59 Billion Foreign Debt In July FY22: EAD

Pakistan incurred foreign debt of $1.596 billion from multiple financing sources in the first month (July) of 2021-22, including $148.26 million from foreign commercial banks.

The Ministry of Economic Affairs data released on Tuesday shows that the government has budgeted estimates of $14.085 billion for the current financial year, including $13.871 billion loans and $214 million loans from multilateral and bilateral sources.

The external inflows during the corresponding period (July) of the fiscal year 2020-21 were $800 million against the budgeted amount of $12.233 billion.

The total receipt of $1.596 billion constitutes $330.33 million from multilateral, $75.85 million from bilateral, $148.26 million from foreign commercial banks, and $1.041 billion from issuance of bonds.

Among the multilateral development partners, mainly Asian Development Bank provided $31.19 million, the World Bank disbursed $90.54 million, AIIB $28.11 million and IDB (S-Term) $176.19 million.

While from bilateral sources China disbursed $67.41 million, USA $5.72 million, Korea $1.23 million and Germany $1.45 million.