ISLAMABAD: The government procured $185.61 million external loans in the first month of the current fiscal year 2022-23 compared to $1.6 billion during the same period of the last fiscal year.

The government received no loans from foreign commercial banks during July 2022, shows the Economic Affairs Division data.

The government has budgeted foreign assistance of $22.8 billion for the current fiscal year including $7.5 billion foreign commercial banks, $22.655 billion loans, and $161.46 million grants.

The country received $78.04 million from multilaterals and $107.56 million from bilateral in July 2022.

The non-project aid was $133.01 million including $27.01 million for budgetary support and project aid was $52.6 million.

External debt, liabilities amount to $126bn

China disbursed no money in July, however, the government has budgeted estimates of $49.02 million for the current fiscal year. Saudi Arabia disbursed $100 million against the budgeted$800 million. The USA disbursed $6.01 million in July against the budgeted 32.49 million for the current fiscal year.

The Asian Development Bank (ADB) disbursed $7.36 million in July out of $3.202 billion budgeted for the current fiscal year. The IDA $59.14 million against the budgeted $1.4 billion, IBRD $6.56 million against the budgeted $1.23 billion, in the first month of the current fiscal year and Islamic Development Bank disbursed $4.99 million against the budgeted $3.38 million for the current financial year.

Copyright Business Recorder, 2022