The federal government has obtained $12 billion foreign debt to meet its external obligations including debt servicing during the first seven months of the current fiscal year.
According to an official document, the government has obtained $12.02 billion debt including a government guarantee during the first seven months of the current fiscal year.
The external loans of the government reached $11.19 billion from different sources during the first seven months of the current fiscal year. According to the document, the government obtained $196 million during the first seven months of the current fiscal year. It has also got $2.04 billion by issuing bonds in July 2021 and January 2022 during the current fiscal year.
The government also obtained $2.62 billion from foreign commercial banks, $3.329 billion from multilateral, and $3.0 billion from time deposits by China and Saudi Arabia during the first seven months of the current fiscal year.
According to the document, the public guarantee was recorded at $832 million including $822 million from bilateral and $10 million for commercial banks’ loans during the first seven months of the current fiscal year.
The document shows that the pace of obtaining external loans accelerated during December 2021 and January 2022. According to the document, the government has got almost $7 billion during the last two months. The government obtained $1.5 billion in July, $793 million in August, $826 million in September, $854 million in October, and $802 million in Nov 2021. It is pertinent to mention here that the loan from the International Monetary Fund is not included in these figures.
