ISLAMABAD: Pakistan incurred foreign debt of $1.596 billion from multiple financing sources in the first month (July) of 2021-22 including $148.26 million from foreign commercial banks.

The data of Ministry of Economic Affairs, released on Tuesday, shows that the government has budgeted estimates of $14.085 billion for the current financial year including $13.871 billion loans and $214 million loans from multilateral and bilateral sources.

The external inflows during the corresponding period (July) of fiscal year 2020-21 were $800 million against the budgeted amount of $12.233 billion.

The total receipt of $1.596 billion constitutes $330.33 million from multilateral, $75.85 million from bilateral, $148.26 million from foreign commercial banks, and $1.041 billion from issuance of bonds.

Among the multilateral development partners, mainly the Asian Development Bank provided $31.19 million, the World Bank disbursed $90.54 million, the AIIB $28.11 million, and IDB (S-Term) $176.19 million.

However, from bilateral sources, China disbursed $67.41 million, USA $5.72 million, Korea $1.23 million, and Germany $1.45 million.

Copyright Business Recorder, 2021