Pakistan borrowed $15.5bn in first 10 months of FY22, external debt stands at over $51bn
Islamabad, May 24 -- Pakistan borrowed more than $15.5bn in foreign loans in the first 10 months of the current fiscal year, which is around 70 per cent more than borrowing from foreign sources in the same period last year, Dawn reported on Tuesday.
In its monthly report on foreign economic assistance, the Ministry of Economic Affairs said it received about $13.03bn foreign assistance in 10MFY2022, which means the government crossed almost 92.5 per cent of the $14.09bn target for foreign assistance set for the whole fiscal.
This does not include more than $1.5bn of expensive foreign debt in Naya Pakistan Certificates from overseas Pakistanis or the over $1bn secured from the International Monetary Fund, which arrived in February. Both these...
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