Pakistan Received $4.6 Billion Foreign Debt in July-November FY22

The government borrowed $4.699 billion from multiple foreign financing sources in the first five months (July-November) of 2021-22.

The government has budgeted external loans of $14.088 billion for the entire fiscal year, including $13.871 billion loans and $217.44 million grants from multilateral and bilateral sources.

The Economic Affairs Division data shows that the government has received $3.458 billion as non-project aid during the first five months of the current fiscal year including program/budgetary support of $2.97 billion, short-term credit of $468.53 million, and TDPs of $18.41 million.

During the period under review, the government received another $1.211 billion as project aid.

The external inflows during the corresponding period (July-November) of the fiscal year 2020-21 were $4.499 billion including $1.62 billion from foreign commercial banks against the budgeted amount of $12.233 billion.

The country received $802.37 million from multiple financing sources in November 2021 including $663.27 million from foreign commercial banks.

The total receipt of $4.699 billion constitutes $1.998 billion from multilateral, $128.74 million from bilateral, $1.53 billion from foreign commercial banks, and $1.041 billion from issuance of bonds.

The government borrowed $1.53 billion from foreign commercial banks during the first five months of the current fiscal year including $720 million from Dubai Bank including $505 million in November, $478.20 million from SCB (London) including $158.27 million in November, $61 million from Ajman Bank PJSC, and $270.50 million from Suisse AG, UBL, and ABL.

Among multilateral development partners, the Asian Development Bank provided $620.29 million, the World Bank disbursed $854.70 million, AIIB $37.77 million, and IDB (S-Term) $468.53 million.

The country received $73.35 million from China, while the United States disbursed $29.23 million, Korea $2.77 million, the United Kingdom $10.01 million, and Germany $3.52 million.