Pakistan paid $4bn as debt payment

MG News | October 10, 2022 at 11:16 PM GMT+05:00

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October 10, 2022 (MLN): The government in the 1QFY23 has paid $4bn as debt payments and $600 million in the first 10 days on October, data issued by SBP showed on Monday.

Furthermore, country is going to receive funding of $4bn from Asian Development Bank (ADB), World Bank (WB), and Asian Infrastructure Investment Bank (AIIB) of $1.5bn, $1-$2bn and $0.5bn respectively.

In a meeting on Oct 25 ADB is going to meet with Pakistan to approve loan of $1.5bn for post flood development in country. In addition, SBP to strengthen the rupee against dollar has took strict action against speculation in market.

Further SBP highlighted that the current account deficit is expected to remain same in line with last estimate of 3% of GDP and expected inflation rate for FY23 is 18%-20%.

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