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In 11 months of FY21, Govt borrowed $11.902 billion

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In 11 months of FY21, Govt borrowed $11.902 billion

In the first eleven months of the outgoing fiscal year, the federal Govt borrowed $11.902 billion in loans from domestic and overseas sources.

Newsline.pk documents show that Pakistan has received loans from multilateral organizations including $1.28 billion from the Asian Development Bank, $252 million from the AIIB, $373 million from the IBRD, $850 million from the IDA, $24.53 million from the IDB, $507 million from the IDB (S-term), $36 million from the IFAD, $35 million from the MDTF, and one million from the OPEC Fund for International Development.

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However, in addition to receiving $45.31 million in grants from multilateral organizations, such as the $3 million provided by the European Union, $2.37 million from ADB, $0.50 million from IFAD, and $39.77 million from MDTF, the government has also received a total of $45.31 million from multilateral organizations such as the European Union, $2.37 million from ADB, $0.50 million from IFAD, and $39.77 million from MDTF.

According to the documents, the government got loans totaling $230 million from bilateral sources, which included $177 million from China, $39.22 million from France, $0.80 million from Germany, $4.67 million from Korea, $6.03 million from Kuwait, and $1.01 million from Saudi Arabia.

There are, however, certain nations that have also given $186.36 million in aid to Pakistan from July to May 2021, including the United States, the United Kingdom, Saudi Arabia, Oman, Japan, and Germany.

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In addition to government funds of $2.500 billion and bank funds of $3.609 billion, $1 billion has also been generated through the issuance of bonds.

It’s been noted that the overall budget projection (i.e., excluding loans and grants) of $12.233 billion was used for calculating the amount of money that the government has received in loans and grants, which, according to the documents, totals $12.135 billion.

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