Pakistan Secures $1.3 Billion in Loans in Q1, Adding to $1 Billion from IMF

by Tauqeer Abbas
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Excluding a $1 billion tranche disbursement from the IMF, Pakistan has received $1.3 billion in foreign loans from multilateral and bilateral creditors in the first quarter (July-September) of the fiscal year 2024-25.

The country has resumed commercial financing, securing $200 million during this period. However, Islamabad has been unable to issue any international bonds despite anticipating a $1 billion projection for the current fiscal year.

Additionally, through the Naya Pakistan Certificate, Pakistan raised $374 million in the first three months of the fiscal year.

Meanwhile, against the target to secure $19.4 billion as foreign loans, Islamabad could only secure $1.3 billion in the first three months of the ongoing fiscal. The IMF has already disbursed $1 billion under the $7 billion Extended Fund Facility and if incorporated the total foreign loans would stand at $2.3 billion in the first quarter of the current fiscal year. The IMF support is calculated as the balance of payment support shown in the SBP book.

The official data released by the Economic Affairs Division shows that the total disbursement of foreign loans stood at $1.3 billion, including $492.96 million from multilateral creditors such as the World Bank, ADB, IsDB, AIIB and others. Pakistan has received foreign loans of $250.29 million from bilateral creditors during the first quarter of the current fiscal year.

Source: The News 

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