The country borrowed $9.811 billion from multiple financing sources during the fiscal year 2023-24.
If the International Monetary Fund (IMF) and the UAE inflows are added. In that case, the total inflows will reach $13.804 billion during the fiscal year 2023-24 against the target of $17.619 billion for the entire fiscal year of 2023-24. The country had borrowed $10.844 billion during the fiscal year 2022-23.
The data further shows that the country received $2.257 billion in June 2024 compared to $2.231 million in June 2023, including $999.04 million from foreign commercial banks.
The government had budgeted $2.4 billion from the IMF for the fiscal year 2023-24 and received $3 billion under the Stand-By Arrangement (SBA); however, the EAD data does not reflect it.
Further, there is no mention of the $1 billion disbursed by the UAE. If the IMF and the UAE inflows are added, the total inflows would reach $13.804547 billion during the fiscal year 2023-24. The $9.811 billion included $2 billion received from Saudi Arabia under the head of time deposit.
The data further showed that the government had budgeted estimates of $4.5 billion from the foreign commercial banks for the fiscal year 2023-24; however, the country received only $999.04 million in fiscal year 2023-24 from the China Development Bank.
The government had budgeted $1.5 billion from the issuance of bonds; however, as the country did not issue the bonds, hence no amount was received during 2023-24.
The government had budgeted $17.619 billion from multiple financing sources for the fiscal year 2023-24 including $17.384 billion in loans and $234.60 million in grants.
The country received $1.104 billion under the head of the “Naya Pakistan Certificate” during the fiscal year 2023-24. The country received $4.279 billion multilaterally and $919.43 million bilaterally during 2023-24. The non-project aid was $6.777 billion including $5.583 billion for budgetary support and project aid was $3.033 billion.
China disbursed $508.34 million under the head guarantee for the JF-17 B project funded by China National Aero-technology Import and Export Corporation (CATIC). China further disbursed 69.14 million against the government budget of $18.54 million for the fiscal year 2023-24.
The Asian Development Bank (ADB) disbursed $1.327 billion during the period under review compared to the budgeted $2.086 billion for the fiscal year 2023-24.
Saudi Arabia disbursed $595.18 million against the budgeted $600 million under the head of the oil facility during 2023-24. Saudi Arabia disbursed another $66.29 million in fiscal year 2023-24.
The USA disbursed $40.18 million against the budgeted $21.60 million for the fiscal year 2023-24. Korea disbursed $35.64 million and France $49.57 million during the fiscal year 2023-24.
The IDA disbursed $1.922 million against the budgeted $1.489 billion for the fiscal year 2023-24 and IBRD $295.87 million against the budgeted $840.36 million. The IsDB (Short-term) disbursed $250 million against the budgeted $500 million for the fiscal year 2023-24 and AIIB disbursed $344.99 million, while IFAD disbursed $42.43 million against the budgeted $42.68 million for the fiscal year 2023-24.
Follow ProPakistani on Google News & scroll through your favourite content faster!
Support independent journalism
If you want to join us in our mission to share independent, global journalism to the world, we’d love to have you on our side. If you can, please support us on a monthly basis. It takes less than a minute to set up, and you can rest assured that you’re making a big impact every single month in support of open, independent journalism. Thank you.
