ISLAMABAD: The government has borrowed $4.255 billion from multiple financing sources from July to October of the current fiscal year 2022-23.
According to the Economic Affairs Division, the government has obtained $4.255 billion from multiple financing sources during the first four months of the current fiscal year compared to $3.898 billion borrowed during the same period of the last fiscal year.
The country received $2.322 billion from multilaterals, $497.44 million from bilaterals and $1.166 billion from IMF during July-October FY22-23. The non-project aid was $3.668 billion including $3.101 billion for budgetary support and project aid was $587.42 million.
China disbursed $54.93 during the first four months of FY22-23 against the government budget estimates of $49.02 million for the current fiscal year, however.
Saudi Arabia disbursed $400 million against the budgeted $800 million. The US disbursed $10.34 million during the period under review against the budgeted $32.49 million for the current fiscal year. Korea disbursed $16.63 million and France $8.40 million during the first four months of the current fiscal year.
According to the document, the Asian Development Bank (ADB) disbursed $1.635 billion during the first four months of FY 22-23.
The IDA disbursed $459.25 million, IBRD $41.89 million, Islamic Development Bank $13.40 million and the IsDB (Short-term) disbursed $155.53 million.
Meanwhile, the government has borrowed $200 million from foreign commercial banks during the first four months of FS 2022-23.
The government also procured $2.017 billion external loans in October 2022 mainly due to the disbursement of $1.522 billion by ADB compared to $692.57 million during the same month of the last fiscal year.
The International Monetary Fund (IMF) has disbursed $1.166 billion during the period under review.
It is pertinent to note that the government has budgeted foreign assistance of $22.8 for FY23 including $7.5 billion from foreign commercial banks, and $161.46 million in grants.
