ISLAMABAD: The Economic Affairs Division has rejected media reports that the country witnessed a 45pc increase in its foreign loans over the last five months.
In a statement issued on Friday, the Economic Affairs Division said, “Media reports regarding 45pc increase in foreign loans in 5-months period are completely incorrect and misleading.”
Explaining key facts, the division claimed the government received gross external inflows of $4.5 billion during the first five months of the current fiscal year (July-November 2020) as against the annual budgeted estimate of $14.37 billion. During this period, the government paid back $2.9 billion on account of external public debt and its servicing.
“Thus, net inflow was $1.6 billion,” it added.
The division further informed that the budgeted estimate of external debt payment and its servicing for FY2020-21 is $11.369 billion.
“During the tenure of the current government, the total external inflow amounted to $26.6 billion which were primarily used for repayment of external public debt and its servicing of $23.4 billion. Thus, net inflow was $3.2 billion,” the statement read.
