Pakistan Borrowed $185.61 Million in First Month of FY23

The federal government borrowed $185.61 million external loans in the first month of the current fiscal year (FY23), shows Economic Affairs data.

Pakistan received $78.04 million from multilateral agreements, while $107.56 million was obtained from bilateral agreements during July 2022.

For FY23, the government has budgeted foreign assistance of $22.8 billion. This also includes $7.5 billion from foreign commercial banks.

China disbursed no money in July, however, the government has budgeted estimates of $49.02 million for the current fiscal year. Saudi Arabia disbursed $100 million against the budgeted $800 million. The US disbursed $6.01 million in July against the budgeted 32.49 million for the current fiscal year.

The Asian Development Bank (ADB) disbursed $7.36 million in July out of $3.202 billion budgeted for the current fiscal year.

The International Development Association (IDA) disbursed $59.14 million against the budgeted $1.4 billion, International Bank for Reconstruction and Development (IBRD) disbursed $6.56 million against the budgeted $1.23 billion, in the first month of the current fiscal year and the Islamic Development Bank disbursed $4.99 million against the budgeted $3.38 million for the current fiscal year.