AGL 5.51 Increased By ▲ 0.11 (2.04%)
ANL 8.49 Decreased By ▼ -0.30 (-3.41%)
AVN 75.73 Decreased By ▼ -0.43 (-0.56%)
BOP 5.21 Increased By ▲ 0.04 (0.77%)
CNERGY 4.42 Decreased By ▼ -0.06 (-1.34%)
EFERT 81.53 Increased By ▲ 0.43 (0.53%)
EPCL 49.54 Increased By ▲ 0.54 (1.1%)
FCCL 12.68 Decreased By ▼ -0.02 (-0.16%)
FFL 5.52 Decreased By ▼ -0.07 (-1.25%)
FLYNG 6.74 Decreased By ▼ -0.24 (-3.44%)
FNEL 4.64 Increased By ▲ 0.01 (0.22%)
GGGL 8.45 Decreased By ▼ -0.14 (-1.63%)
GGL 13.85 Decreased By ▼ -0.21 (-1.49%)
HUMNL 6.03 Increased By ▲ 0.53 (9.64%)
KEL 2.56 Decreased By ▼ -0.04 (-1.54%)
LOTCHEM 27.62 Decreased By ▼ -0.09 (-0.32%)
MLCF 23.75 Increased By ▲ 0.07 (0.3%)
OGDC 71.22 Decreased By ▼ -0.23 (-0.32%)
PAEL 15.16 Decreased By ▼ -0.04 (-0.26%)
PIBTL 4.87 Decreased By ▼ -0.04 (-0.81%)
PRL 15.86 Increased By ▲ 0.06 (0.38%)
SILK 1.09 Increased By ▲ 0.04 (3.81%)
TELE 8.84 Decreased By ▼ -0.15 (-1.67%)
TPL 7.08 Decreased By ▼ -0.08 (-1.12%)
TPLP 19.20 Decreased By ▼ -0.02 (-0.1%)
TREET 20.87 Decreased By ▼ -0.27 (-1.28%)
TRG 136.73 Decreased By ▼ -0.02 (-0.01%)
UNITY 16.54 Decreased By ▼ -0.26 (-1.55%)
WAVES 9.16 Increased By ▲ 0.06 (0.66%)
WTL 1.34 Decreased By ▼ -0.03 (-2.19%)
BR100 4,158 Decreased By -27.7 (-0.66%)
BR30 15,339 Decreased By -127.2 (-0.82%)
KSE100 41,652 Decreased By -167.7 (-0.4%)
KSE30 15,380 Decreased By -68.1 (-0.44%)
Print

Around $17bn foreign debt incurred in FY22

  • Around $4.9 billion was taken from foreign commercial banks
Published July 26, 2022
Follow us

ISLAMABAD: Pakistan incurred foreign debt of around $17 billion from multiple financing sources in the fiscal year 2021-22, which includes $4.9 billion from foreign commercial banks (29%) against the total budgeted external loans of $14.088 billion for the fiscal year 2021-22.

This does not include the $1 billion received from the International Monetary Fund (IMF) during this period.

Data from the Economic Affairs Division (EAD) shows that the country received $3.434 billion from multiple financing sources in June 2022 including $2.240 billion borrowed foreign commercial banks.

The government had budgeted estimates of foreign assistance of $14.088 billion for the financial year 202122, including $13.871 billion loans and $217.44 million grants from multilateral and bilateral sources.

The external inflows during the corresponding fiscal year 2020-21 were $14.282 billion including $4.721 billion from foreign commercial banks against the budgeted amount of $12.233 billion.

The total receipt of $16.974 billion constitutes $4.828 billion from multilateral, $708.08 million from bilateral, $4.863 billion from foreign commercial banks, and $2.041 billion from issuance of bonds and $3 billion time deposit from Saudi Arabia.

Pakistan’s financing needs fully met for this year, says SBP chief

The non-project aid was $13.220 billion including $11.861 billion for budgetary support and project aid was $2.221 billion.

Guaranteed loans were $1.532 billion during the fiscal year 2021-22. The government borrowed $4.863 billion from foreign commercial banks during the fiscal year 2021-22 including $1.140 billion from Dubai Bank, $487.26 million from SCB (London), $61 million from Ajman Bank PJSC, $ 343.50 million from Suisse AG, UBL and ABL, $591.25 million from Emirates NBD, $52.32 million from ECO.T/Bank and $2.240 billion from China (received in June).

Among multilateral development partners, mainly the Asian Development Bank provided $1.625 billion against the projected $1.479 billion, the World Bank disbursed $1.579 billion against the budgeted $2.366 billion, the AIIB $41.62 million, IDB $78.98 million and IDB (S-Term) $1.327 billion.

China disbursed $162.60 million in the fiscal year 2021-22 against the budgeted $69.66 million, USA $69.82 million, Korea $5.51 million, UK $16.01 million, Germany $16.68 million, and Saudi Arabia $401.09 million including $100 million in June for imports of oil products.

Copyright Business Recorder, 2022

Comments

Comments are closed.

Around $17bn foreign debt incurred in FY22

SBP-held foreign exchange reserves fall $784mn, now stand precariously at $6.71bn

IATA says Pakistan has blocked $225mn in airline funds from repatriation

Daily Mail apologises to PM Shehbaz over 'corruption allegations'

Saudi Arabia signs Huawei deal, deepening China ties on Xi visit

Rupee continues to depreciate, settles at 224.37 against US dollar

Roshan Digital Account: monthly inflow lowest since Dec 2020, clocks in at $141mn in Nov

Saif-ur-Rehman appointed Karachi administrator

IHC bars FIA from arresting Suleman Shehbaz upon return from UK

Pakistan seeking $4.2bn from Saudi Arabia: reports

Another audio, purportedly of Bushra Bibi discussing ‘sale of watches’, surfaces