Pakistan secures $5.688 bn external loans
ISLAMABAD: While officially confirming to possess received $1 billion from China as safe deposits after return to Saudi Arabia , Pakistan has received a complete $5.688 billion external loans during the primary six months (July-Dec) of the present financial year 2020-21.
However, this point Islamabad managed lesser amount of $5.915 billion than an equivalent period of the last fiscal. It indicates that Pakistan received $227 million less within the first six months of the present fiscal compared to an equivalent period of the last fiscal year .
According to official figures of the Economic Affairs Division (EAD), during July-December of financial year 2020-21, the govt received $5,688 million total external inflows from multiple financing sources, which are 46 percent of annual budget estimates of $12,233 million for the whole financial year 2020-21. within the corresponding period of the financial year 2019-20, the external inflows were $5,915 million which were also around (46 pc) of the annual budgeted amount of $12,958 million.
The total receipt of $5,688 million constitutes $1,634 million or 29pc as program, budgetary support assistance to restructure Pakistan’s economy; $2,054 million (36pc) as foreign commercial borrowing to repay maturing foreign commercial loans and $754 million (13pc) as project assistance to finance development projects activities for improving the socio-economic development of the country and for asset creation, $246 million (13pc) as commodity financing while $1,000 million (18pc) received as safe deposits from China.
Disbursement from multilateral and bilateral development partners also maintained a robust trend and stands at $2,633 million during the review period against the budgetary allocation of $5,811 million for fiscal 2020-21 on concessional terms with longer maturity. These healthy inflows have helped improve exchange reserves and rate of exchange stability.
Amongst the multilateral development partners, mainly the Asian Development Bank provided $1,120 million, International Bank for Reconstruction and Development disbursed $744 million against the budgetary allocation of $2,257 million. The bilateral sources, France, USA and China, provided $34.3 million, $70.5 million & $95.4 million res
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